Analyst: Gold prices still have upward momentum, with non-farm payrolls and Supreme Court rulings becoming key variables

Odaily Planet Daily News reports that analyst Giuseppe Dellamotta stated that gold prices continue to be supported by geopolitical tensions and weak US data. Currently, the bullish momentum remains solid, but Friday’s US non-farm payroll report could pose a challenge. Although the previous report was questioned due to government shutdown issues, this time the data should provide a clearer economic picture. If the data is strong, it could lead to a sharp correction in gold prices as traders delay expectations of an imminent Fed rate cut; if the data is weak, it should continue to support gold prices to rise. Additionally, the US Supreme Court has designated Friday as the opinion release day, which may result in a ruling on Trump’s tariff policies. If the tariffs are rejected, easing stagflation risks could lead to a decline in gold prices. Conversely, if tariffs remain unchanged, although no major movement is expected, it will still support an upward trend in gold prices. (Jin10)