According to ChainCatcher, under the continuous pressure from Trump on Powell, New York gold futures today broke through the 3,500 mark, with spot gold just a step away from 3,500.
Tim Waterer, chief market analyst at KCM Trade, said: "Under the concerns about tariff issues and the dispute between Trump and Powell, investors have been avoiding US assets, which has allowed gold to fully take advantage of the dollar's predicament and gain a favorable position. Given the rapid rise in gold prices this month, there is still a possibility of a pullback. However, there is reason to believe that if gold prices pull back, buyers will still be keen on gold, as high economic uncertainty remains the main characteristic of the market."
