02 Sep 2025
Gold rebounds toward $3,500 as US PMI drags Greenback lower
Gold retreats after a record peak at $3,508 as the US Dollar and Treasury yields rebound.
Safe-haven demand underpins downside as investors hedge against trade policy uncertainty, Fed independence concerns, and geopolitical tensions.Technical outlook stays bullish as momentum holds despite overbought RSI, with key support at $3,470/$3,450 and resistance at $3,500/$3,508.
Gold (XAU/USD) retreats on Tuesday after briefly surging to a fresh all-time high of $3,508 per ounce during the Asian session as a rebound in the US Dollar (USD) and Treasury yields triggered mild profit-taking.
At the time of writing, the precious metal is trading near $3,496 during the American session, extending a six-day winning streak. Despite the short correction earlier in the day, underlying demand remains strong on the back of safe-haven flows and expectations that the Federal Reserve (Fed) will lower the interest rates at its September 16-17 monetary policy meeting.
