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Analysts: Gold prices rise moderately as the market awaits the PPI data reaction.
According to Huoxing Finance, gold prices rose moderately on Wednesday due to a weakening dollar, as investors await clearer trade negotiations between the U.S. and its trading partners, as well as further guidance from another PPI inflation data that may provide insight into the Fed's policy outlook. Independent analyst Ross Norman stated, "The dollar is softening ahead of the U.S. PPI data, as traders are taking a cautious stance after recent rises, which has led to a moderate increase in gold prices." However, Ajay Kedia, head of Kedia Commodities, noted that despite Trump updating new tariffs, the gold market has repeatedly fallen below the $3400 mark. Previously, ANZ had projected in a report, "In the short term, gold prices may consolidate and then rise again to $3600 per ounce before the end of the year."