Analysis: The weakness of the US dollar has caused gold prices to pump, and the non-farm data being weaker than expected will provide Favourable Information for gold.

GateUser-6433627c · 2025-05-02T12:07:48+00:00

The decline of the US dollar and US Treasury yields has led to a rise in gold futures, but the overall trend is still falling. ETF outflows indicate that investors are taking profits, while easing trade tensions and a shift in Trump's attitude are reducing gold's appeal. The market is following US employment data, and if the data is weak, it may support expectations for The Federal Reserve (FED) to lower interest rates, which would be favourable information for gold.

GateUser-6433627c

2025-05-02 12:07:48

Abstract generation in progress

On May 2, due to the decline in the US dollar and US Treasury yields, gold futures rose in relatively light trading. However, after the significant dumping on Thursday, the overall decline this week. Analysts at SP Angel stated in a report that ETF outflows indicate that traders and investors have taken profits after a 21% rise in gold prices year-to-date. SP Angel noted that easing trade tensions are reducing the attractiveness of gold, while Trump announced that he does not intend to fire Powell. The focus now turns to the US employment data to be released on Friday. If the data is weaker than expected, it will boost optimism about the Federal Reserve (FED) cutting interest rates, which is favourable for non-yielding gold. ( Jin10 )

TRUMP-3,06%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.