Analyst: Gold prices rise moderately as the market awaits PPI data reaction

ChainCatcher news, gold prices rose moderately on Wednesday due to a weaker dollar, as investors awaited clearer trade negotiations between the U.S. and its trading partners, as well as another PPI inflation data that might provide further guidance on the Federal Reserve's policy outlook.

Independent analyst Ross Norman stated, "The dollar is currently weakening ahead of the U.S. PPI data release, as traders are taking a cautious stance after recent gains, which has led to a moderate rise in gold prices."

However, Ajay Kedia, head of Kedia Commodities, noted that despite Trump's update on new tariffs, the gold market has repeatedly fallen below the $3,400 mark. Previously, ANZ Bank projected in a report, "In the short term, gold prices may consolidate and then rise again to $3,600 per ounce by the end of the year."