Gold Breaks $5,070 as Fed Easing Bets Build

Gold climbed above $5,070/oz on Tuesday, nearing a two-week high as fresh U.S. data reinforced expectations for a more accommodative Federal Reserve later this year.

Recent indicators point to cooling momentum: • December retail sales unexpectedly stalled

• GDP control group fell -0.1%

• Job openings dropped to the lowest level since 2020

• Private payroll growth missed estimates

Together, the data signal moderating demand and easing inflation pressure — shifting rate expectations toward potential cuts.

Structural support remains firm.

China’s central bank extended its gold purchases for a 15th consecutive month in January, underpinning long-term demand. Meanwhile, geopolitical uncertainty continues to support safe-haven flows. Despite tentative progress in U.S.–Iran talks, lingering tensions are helping cap downside risk.

🔍 Outlook:

Gold is benefiting from softer rate expectations, sustained official-sector buying, and persistent geopolitical risk. Markets are watching $5,070 as a near-term technical pivot, with fundamentals suggesting continued support amid broader macro volatility.

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