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Category: CRYPTO NEWS
The post Gold jumps back above $3,400 amid reviving safe-haven demand appeared on BitcoinEthereumNews.com. Gold price regains positive traction as trade-related uncertainties boost safe-haven assets. The USD struggles to lure buyers despite the Fed’s hawkish pause. Bulls seem unaffected by a positive risk tone, which tends to undermine the XAU/USD pair. Gold price (XAU/USD) attracts some dip-buying during the Asian session on Thursday and rallies back above the $3,400 mark in the last hour, reversing a major part of the overnight slide from a two-week high. US President Donald Trump tempered hopes for a quick resolution to the US-China trade war by saying that he is in no real hurry to sign any deals. This, along with geopolitical risks stemming from the Russia-Ukraine war, conflicts in the Middle East, and a dangerous military confrontation on the India-Pakistan border, underpin the safe-haven bullion. Meanwhile, the initial market reaction to the Federal Reserve’s (Fed) hawkish pause on Wednesday turns out to be short-lived amid the heightened economic uncertainty led by Trump’s rapidly shifting stance on trade policies. This, in turn, fails to assist the US Dollar (USD) to capitalize on the previous day’s modest gains and is seen as another factor underpinning demand for the Gold price. However, a generally positive tone around the equity markets might hold back the XAU/USD bulls from placing aggressive bets and keep a lid on any meaningful gains. Daily Digest Market Movers: Gold price bulls look to retain control amid sustained safe-haven demand US President Donald Trump said on Wednesday that he was not open to lowering the 145% tariffs imposed on China in order to encourage trade-war negotiations. This keeps a lid on the optimism led by the announcement of US-China trade talks later this week and lends some support to the safe-haven Gold price. Airports were shut down across Moscow amid a massive Ukrainian drone attack ahead of…
2025-05-08T02:39:48+00:00