Gold Rises as Dollar Slips, Eyes Turn to U.S. Producer Price Data

Gold gained modestly Wednesday as a softer U.S. dollar and renewed trade uncertainty gave the metal a lift. The market is watching closely for U.S. producer price inflation data, which could shape the Fed’s interest rate path. So far, gold has repeatedly hit resistance near $3,400 despite rising inflation and new Trump tariffs, including a fresh 19% duty on Indonesian imports.

Analysts believe the current pause may be temporary, with ANZ forecasting gold could climb to $3,600 per ounce by the end of 2025. Meanwhile, silver rose 0.6% to $37.93, continuing to outperform amid strong industrial demand and tight supply.