Gold price holds intraday gains above $2,900 amid persistent USD selling pressure.

Gold Price Rebounds Above $2,900 Amid USD Weakness and Geopolitical Concerns

Gold price (XAU/USD) starts the week on a strong note, recovering from Friday’s pullback near its all-time high and climbing back above the $2,900 level during the Asian session. A persistent US Dollar (USD) selling bias—driven by the delay in former US President Donald Trump’s reciprocal tariffs—continues to support the precious metal. Additionally, concerns over Trump’s policies potentially sparking a global trade war further boost demand for gold as a safe-haven asset.

Despite growing market expectations that the Federal Reserve (Fed) will maintain its hawkish stance and keep interest rates elevated for an extended period, gold’s bullish momentum remains intact. Even optimism surrounding US-Russia peace talks on the Ukraine war fails to curb the metal’s upward movement. These factors suggest that the XAU/USD price trend favors further gains, reinforcing gold’s strong position in the current economic landscape.