Zlato Technická analýza - Zlato Obchodování: 2025-02-11

University of Michigan’s consumer survey showed US inflation expectation rose by 20 basis points over month in December. At the same time respondents expect the inflation rate a year from now to be 4.3%, a 1 percentage point jump from January and the highest level since November 2023. Analysts note that the near- term inflation expectations were boosted by anticipation of price increases consumers see coming after imposition of tariffs on US trading partners. While president Trump postponed tariffs against Canada and Mexico, 10 percent tariffs were introduced for Chinese imports which prompted China’s retaliatory tariffs. Yesterday president Donald Trump signed an executive order imposing 25% tariffs on steel and aluminum imports "without exceptions or exemptions." He also announced plans to introduce reciprocal tariffs on other countries in the coming days. US tariffs and retaliatory responses by targeted countries raised concerns about a global trade war that could fuel inflation, potentially limiting the Federal Reserve's ability to cut interest rates further. Expectations of higher US inflation and higher interest rates raises demand for safe haven asset gold. Price of gold resumed rising after the release of University of Michigan consumer sentiment report. However, the price is retreating currently after hitting all-time high today.