Gold Breaks $5,070 as Fed Easing Bets Build
Gold climbed above $5,070/oz on Tuesday, nearing a two-week high as fresh U.S. data reinforced expectations for a more accommodative Federal Reserve later this year.
Recent indicators point to cooling momentum: • December retail sales unexpectedly stalled
• GDP control group fell -0.1%
• Job openings dropped to the lowest level since 2020
• Private payroll growth missed estimates
Together, the data signal moderating demand and easing inflation pressure — shifting rate expectations toward potential cuts.
Structural support remains firm.
China’s central bank extended its gold purchases for a 15th consecutive month in January, underpinning long-term demand. Meanwhile, geopolitical uncertainty continues to support safe-haven flows. Despite tentative progress in U.S.–Iran talks, lingering tensions are helping cap downside risk.
🔍 Outlook:
Gold is benefiting from softer rate expectations, sustained official-sector buying, and persistent geopolitical risk. Markets are watching $5,070 as a near-term technical pivot, with fundamentals suggesting continued support amid broader macro volatility.
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