$TRUMP

Stunningly witnessing $3500, gold prices experience a massive shock! Experts reveal a potential '1 status' in the coming days.

International gold prices rebounded strongly on Thursday (24th), sweeping away the previous day's decline of more than 3%. Investors continue to closely monitor the latest developments regarding U.S.-China tariff news. Analysts pointed out that gold prices broke through the $3500 barrier this week, and the market needs to pull back to digest selling pressure, expecting a consolidation pattern in the coming days. If a significant decline occurs, buying interest will likely emerge.

According to Reuters, on the 24th, New York gold futures rose by 1.7%, reaching $3348.60 per ounce; spot gold prices also increased by 1.4%, closing at $3333.90 per ounce.

As concerns about a U.S. economic recession grow, funds are shifting to the gold market seeking safety. On Tuesday (22nd), gold prices briefly hit a historic high of $3500.05. However, after U.S. President Trump softened his stance on tariffs against mainland China and stated that he would not replace Federal Reserve Chairman Powell, gold prices faced a setback on Wednesday.

Independent metal trader Tai Wong stated that the current market focus is on tariff issues. Gold prices surged to $3500 this week, and the short-term rally has been too rapid, necessitating a moderate pullback to digest selling pressure. He believes that gold prices may show a consolidation pattern in the next few trading days, but are still in a bullish market phase. Therefore, if a significant drop occurs, it will inevitably attract buying interest.

Mainland China has demanded that the U.S. revoke all 'unilateral' tariffs and clarified that there are currently no trade negotiations with the U.S., which contrasts with U.S. government officials' repeated hints that both sides have been in contact.

U.S. economic data shows that the number of initial unemployment claims slightly increased last week, indicating that although import tariffs have cast a shadow over the economy, the labor market remains resilient.