Gold prices rebounded 1.4% on Thursday, recovering some ground after Wednesday’s 3% decline. The precious metal reached $3,332.89 per ounce as investors took advantage of lower prices and responded to a weakening dollar.
Market attention remains focused on U.S.-China trade developments, with China demanding the cancellation of all “unilateral” U.S. tariffs before engaging in trade talks. Gold had reached an all-time high of $3,500.05 on Tuesday due to U.S. economic concerns but retreated when President Trump backed away from threats against the Federal Reserve chair and appeared to ease his position on China.
Analysts describe the current market as a bull market for gold where significant price drops will attract buyers. Meanwhile, U.S. unemployment claims rose only slightly, suggesting a resilient labor market despite economic challenges from tariffs.