Gold Rebounds Amid Trade War Fears; Analyst Predicts $3,500 Target

Gold prices rebounded on Thursday, gaining 1.6% to $3,340.79 an ounce after a sharp decline in the previous session. Investors bought bullion amid persistent U.S.-China trade tensions. U.S. gold futures also rose, gaining 1.8% to $3,352.10. Analysts suggest the pullback cleared some froth, attracting buy-the-dip action. Exinity Group's chief market analyst, Han Tan, believes gold could reach $3,500. The International Monetary Fund (IMF) has reduced its outlook for U.S. and global growth, citing President Trump's tariff policy. U.S. Treasury Secretary Scott Bessent stated that current tariffs between the U.S. and China are unsustainable. A weaker U.S. dollar also supported gold, making it cheaper for overseas buyers. Spot silver fell 0.5% to $33.37 an ounce.