Gold prices are exhibiting a slight downward bias, trading marginally below the recently established all-time high, as bullish momentum pauses amidst overbought conditions. While improved global risk sentiment is tempering gains, escalating US-China trade tensions continue to bolster safe-haven demand for the precious metal. The US Dollar remains weak, hovering near its lowest level since April 2022, influenced by concerns regarding the US economic outlook and increasing expectations of Federal Reserve rate cuts. Anticipation of multiple rate reductions by the Federal Reserve this year is expected to further support gold prices, favoring a bullish market outlook.
