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Commodities Gold

Gold Falls as Better US Jobs and Trade Hopes Cool Rate Cut Bets

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  • May 3, 2025
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Gold (XAU/USD) continued to fall on Friday, weighed down by better-than-expected US jobs data and fresh optimism regarding US-China trade talks, both of which took the shine off the safe-haven asset. April’s Nonfarm Payrolls topped expectations, maintaining the unemployment rate at 4.2%, prompting traders to reprice expectations for hawkish Federal Reserve rate cuts. At the same time, China’s indication that it is willing to restart trade talks with the US improved market mood, triggering risk-taking and causing profit-taking in Gold. As XAU/USD pulled back from highs of about $3,269 to move near $3,226, the metal is set to close out the week with losses of more than 2.5%, with technicals indicating a break below major support at $3,200 in the cards. KEY LOOKOUTS •  April Nonfarm Payrolls surpassed expectations, keeping the unemployment rate unchanged at 4.2%, leading traders to reduce aggressive Fed easing expectations. •  XAU/USD fell below $3,250 and is headed for a steep weekly fall as profit-taking gains momentum with better risk sentiment. •  China’s receptiveness to trade negotiations with the US boosted global risk appetite, lowering investor appetite for Gold. • RSI lower trends with XAU/USD expected to break the $3,200 support line to expose downside targets at $3,167 and the 50-day SMA at around $3,080. Gold (XAU/USD) declined on Friday as better-than-expected US jobs data and softening US-China trade tensions reduced demand for the safe-haven commodity. The April Nonfarm Payrolls report revealed job gains beating forecasts, with the unemployment rate remaining unchanged at 4.2%, prompting traders to dial back bets on deep Federal Reserve rate cuts. Adding to the squeeze, China’s commerce ministry indicated that the US was receptive to trade negotiations, lifting market optimism and risk appetite. Consequently, Gold fell under the $3,250 price level, reaching around $3,226 and poised to break even for a weekly loss in excess of 2.5%, with its technical indicators in favor of moving below the support level of $3,200. Gold (XAU/USD) fell to about $3,226 as robust US jobs data and fresh trade optimism cut safe-haven demand. Traders trimmed Fed rate cut expectations, sending Gold towards a weekly decline of more than 2.5%. A fall below $3,200 may reveal additional downside levels. • Gold (XAU/USD) fell more than 0.35% on Friday, trading at about $3,226 and on track for a weekly decline of over 2.5%. •  Solid US Nonfarm Payrolls beat forecasts, with 177K jobs created in April and the unemployment rate unchanged at 4.2%, lowering the chances of hawkish Fed rate cuts. •   Investors now discount 78 basis points of Fed rate cuts, falling from earlier forecasts, shifting sentiment away from safe-haven assets such as Gold. • US Treasury yields increased strongly, with the 10-year yield increasing nine basis points to 4.312%, putting additional pressure on Gold. • Optimism surrounding trade improved risk appetite in markets, following confirmation that China has acknowledged that the US is willing to restart trade talks. • The US Dollar Index (DXY) declined by 0.20%, in spite of more robust yields, as markets responded mixed fashion. • Gold is near major technical support around $3,200 and faces increasing risk of further declines to $3,167 and the 50-day SMA around $3,080 if selling persists. Gold prices slipped this week as investor sentiment changed in response to strong US economic data and better US-China trade relations. The US labor market reported unexpected strength in April, with Nonfarm Payrolls beating estimates and the unemployment rate holding firm. This firm economic performance prompted most market players to rethink their interest rate cut expectations from the Federal Reserve, as a more robust job market lessens the need for monetary easing. XAU/USD DAILY CHART PRICE CHART SOURCE: TradingView Meanwhile, global risk appetite improved after China’s commerce ministry said the U.S. was open to restarting trade talks. This newfound optimism in trade relations tempered demand for traditional safe-haven assets such as Gold, with investors more inclined to take on risk elsewhere. Therefore, Gold experienced some selling pressure as traders sought to lock in profits and rebalance their portfolios in relation to changing macroeconomic conditions. TECHNICAL ANALYSIS Gold (XAU/USD) could not sustain above the $3,250 level, declining after not being able to overcome resistance at about $3,270. Price action is weakening bullish power, with the sellers taking the lead as the Relative Strength Index (RSI) turns lower. A continued decline below the important $3,200 support level may pave the way for further losses, targeting the next support at $3,167, then the 50-day Simple Moving Average (SMA) at $3,080. On the other hand, if the buyers find their footing and drive the price back above $3,300, it may indicate a new attempt to test $3,350. FORECAST If bullish pressure returns, Gold (XAU/USD) may recover above the $3,200 level and target to regain resistance at $3,250. A clean break above this range would most likely draw fresh buying interest, which could drive prices towards $3,300. If that level is broken, the way could be open to challenge the $3,350 resistance, with $3,400 being a psychological level of importance. Increased geopolitical tensions, softer economic data, or dovish Federal Reserve signals would serve as catalysts for a move higher. On the negative side, a strong break below the $3,200 support level would speed up selling pressure, with Gold likely to move towards the next significant support at $3,167, which had served as resistance in early April. Persistent support for US economic metrics and eroding expectations for Fed interest rate cuts can also weaken demand for the metal further. Should the bearish strength continue, the 50-day Simple Moving Average (SMA) at around $3,080 will become the next downside target, triggering a further correction in the short term.

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Commodities Gold

Gold Staggers Despite Growing Appetite for Risk and Strengthening USD, but Bets on Fed Rate Cut Provide Comfort

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  • May 1, 2025
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Gold prices are now down for a third day in a row, having plunged to a two-week low, as a stronger US Dollar and better risk appetite—fuelled by a reduction in US-China tensions and positive trade rhetoric—tarnish the demand for the safe-haven metal. But the drawback looks limited as disappointing US macroeconomic data, such as a surprise GDP decline and lower inflation readings, drive expectations for dovish Federal Reserve rate cuts. These expectations, in turn, limit USD appreciation and give gold a cushion. Investors now look to important US economic reports, such as the ISM Manufacturing PMI and Friday’s Nonfarm Payrolls, for more definitive guidance on the Fed’s policy course and gold’s next direction. KEY LOOKOUTS •  Focus in the market is on ISM Manufacturing PMI and Friday’s Nonfarm Payrolls (NFP) report, which may have a major impact on the Fed’s interest rate trajectory and gold’s direction. •  Federal Reserve Rate Cut Expectations: Lower GDP and softening inflation add to expectations of a 100 basis point rate cut by year-end, which may cap USD strength and prop up gold prices. •  Geopolitical Updates: Any strengthening of geopolitical tensions, especially including Russia or US-China relations, might reactivate safe-haven demand for gold. •  Technical Levels under Scrutiny: A confirmed breakdown below the $3,229–$3,228 support level could trigger further downtrends towards $3,200 and $3,160, while attempts to recover are repelled at $3,260–$3,265 and $3,300. Multiple important factors that can influence the metal’s short-term direction are being closely observed by gold traders. All attention is now focused on forthcoming US economic data, especially the ISM Manufacturing PMI and the critical Nonfarm Payrolls report, which may impact hopes surrounding the Federal Reserve’s interest rate decisions. Softer inflation and a shock GDP contraction earlier have already fueled market expectations for deep rate cuts, potentially curbing additional gains for the USD and underpinning gold. Geopolitical threats, particularly escalating tensions between Russia and events in US-China relations, also continue to be in the spotlight as possible drivers of safe-haven flows. Technically, a persistent breakdown below the $3,229–$3,228 support area could pave the way for further losses, while resistance around $3,265 and $3,300 could limit attempts at recovery. Gold’s short-term prospects are contingent upon pivotal US data releases, specifically the Nonfarm Payrolls release, and shifting Fed rate cut expectations. Geopolitical uncertainty and USD strength will also be influential, with technical support at $3,229 continuing to be paramount for direction of price. • Gold prices are under pressure, near a two-week low due to firmer USD and risk-friendly sentiment. •  US-China trade optimism and easing tensions are lifting investor sentiment, lowering demand for safe-haven assets such as gold. •  US Dollar strength is suppressing gold, underpinned by positive sentiment and hawkish comments. •  Soft US macro data—such as a surprise contraction in GDP and weaker inflation—are fueling hopes of aggressive Fed rate cuts. •  Markets now expect as much as 100 basis points of rate cuts by the Federal Reserve through year-end, which could top USD gains and underpin gold. •  Geopolitical tensions, such as rising tensions in Eastern Europe, could give a safety bid and cap gold’s downside. •  Key technical levels to monitor are support at $3,229 and resistance at $3,265–$3,300, which will determine short-term price action. Gold still wanders through a geopolitical and macroeconomic maze, where market sentiment is influenced by a mix of economic instability and changing international dynamics. The recent relaxation of US-China tensions and upbeat trade talks have heightened investor optimism, limiting the attractiveness of conventional safe-haven assets such as gold. At the same time, improved US Dollar performance with supportive comments about international trade agreements has dampened demand for gold. This notwithstanding, gold is being underpinned by increasing fear about the US economy’s health, as demonstrated by a surprising GDP contraction and decelerating private sector hiring. XAU/USD Daily Price Chart Sources: TradingView Inflationary pressure also seems to be abating, with the most recent information indicating a deceleration in both headline and core inflation. These events have reinforced market expectations of further aggressive interest rate reductions by the Federal Reserve over the next few months. As market players adjust strategies to meet new economic data and central bank cues, gold still has some underlying support. At the same time, lingering geopolitical tensions, particularly relating to Russia and Eastern Europe, continue to introduce uncertainty that can maintain interest in the precious metal as a long-term hedge. TECHNICAL ANALYSIS Gold recently fell below the crucial support range of $3,265–$3,260, prompting a cascade of selling pressure and driving prices to a two-week low of $3,221. Although momentum indicators have begun to lose bullish momentum, a clear break below the next significant support at $3,229–$3,228 (50% Fibonacci retracement) would affirm a bearish continuation towards the $3,200 level and potentially the $3,160 zone. On the upside, any recovery attempts may face resistance near the $3,260–$3,265 zone, followed by stronger barriers around the $3,300 mark and the $3,348–$3,350 supply region, where renewed selling interest could emerge. FORECAST If upcoming US economic data, particularly the Nonfarm Payrolls report, reinforces expectations of Federal Reserve rate cuts, gold could find renewed support and begin to recover. A softer labor market or softer inflation numbers can heighten pressure on the Fed to cut policy, softening the US Dollar and making non-yielding assets such as gold more attractive. Gold prices in such a case can recover towards the $3,300 mark and even retest higher resistance levels if risk-off sentiment returns owing to geopolitical tensions or global economic issues. On the other hand, in case the US economic data surprise positively—indicating resilience in the labor market or more sticky inflation—market expectations of Fed rate cuts diminish, a stronger USD results, and gold comes under additional downward pressure. Continued absence of safe-haven demand on account of bettering risk sentiment, particularly following positive global trade updates, could also be responsible for further losses. If gold falls below the $3,229 support level decisively, it may lead to a deeper correction towards $3,200 and even the $3,160 region in

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Commodities Gold

Gold Struggles Below $3,300 Amid US-China Trade Optimism and USD Recovery

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  • April 28, 2025
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Gold is having trouble gaining traction below the $3,300 level as optimism towards the prospects of a US-China trade deal and a small recovery in the US Dollar bear down on the metal. Deterioration in China’s gold consumption, especially in jewelry, also weighs on the precious metal. In spite of this, geopolitical tensions, such as the Russia-Ukraine war, and June Federal Reserve rate-cut expectations lend some support to gold as a safe-haven asset. Investors continue to hold back, looking to major US economic data due out this week that may bring more clarity on Fed policy expectations. Technical analysis indicates that gold prices may continue their recent fall if they are unable to hold above key support levels, but a bounce above $3,300 may set the stage for a move towards higher resistance levels. KEY LOOKOUTS •  Ongoing optimism regarding a possible US-China trade deal may put pressure on gold prices, but any setbacks or reversals in trade negotiations may prompt a renewed demand for safe-haven assets such as gold. •  Markets are on the lookout closely for signals that the Federal Reserve will make more rate cuts in the future. Any signals for more aggressive loosening will limit the US Dollar’s rebound and offer support for gold prices. •  Russia-Ukraine fighting and North Korean participation in the war continue as the primary geopolitical risks that could support demand for gold as an insurance asset if tensions increase. •  Future important economic reports such as the JOLTS job openings, Personal Consumption Expenditures (PCE), and non-farm payrolls (NFP) could have an impact on market sentiment and the policy stance of the Fed, which may give new direction to gold prices. Various important factors affecting gold prices in the short term need to be watched closely by investors. The latest news in US-China trade talks continues to be paramount, with any indication of improvement potentially diminishing safe-haven demand, whereas disappointments may provoke new buying. The Federal Reserve policy direction is also being watched, with markets assuming the possibility of rate cuts that would devalue the US Dollar and boost gold. Geopolitical tensions, especially the Russia-Ukraine conflict and North Korea’s involvement, continue to support the metal’s safe-haven demand. Lastly, this week’s US economic releases, such as JOLTS, PCE, and the NFP report, are likely to give more indications on the Fed’s direction, which may create volatility in gold prices. Gold prices are still sensitive to US-China trade updates, expectations of a Fed rate cut, and geopolitical tensions. Future US economic releases, such as PCE and non-farm payrolls, may offer new direction. Investors are observing key support at $3,260 and resistance at $3,331. •  Expectations for the easing of trade tensions between the US and China are putting pressure on gold prices, with advances in the negotiations having the potential to lower safe-haven asset demand. •  A small increase in the US Dollar has been helping gold struggle below the $3,300 level, although additional rate cuts by the Federal Reserve have the potential to curb dollar gains. •  A year-over-year decrease of 5.96% in Chinese gold consumption, particularly in jewelry, places pressure on gold prices even as there is increased demand for gold bars and coins. • Geopolitical tensions, such as the Russia-Ukraine conflict and North Korea’s activities, continue to benefit gold as a safe-haven asset. • Bets in the market for additional Federal Reserve rate reductions, possibly starting in June, may depress the USD and support gold prices as a non-yielding asset. • Major US reports such as the JOLTS job openings, PCE, and non-farm payrolls (NFP) will be instrumental in determining the Fed’s future policy actions and may drive gold price action. •  Gold is now probing important support at $3,260, with overhead resistance at $3,331. A decline below support would put further losses in train, while a bounce above resistance could pave the way for a reversal to the upside. Gold prices are under pressure from several sources, including expectation for a possible US-China trade agreement and a small US Dollar recovery. With trade tensions between the world’s two biggest economies easing, investors are less willing to turn to gold as a safe-haven asset. And China’s decreasing demand for gold, particularly for jewelry, has also helped the prices of gold decline, since the country is among the largest consumers of gold. This falling consumption is part of more general economic headwinds, including the high price of gold that is slowing down demand for more conventional types of gold investment. XAU/USD Daily Price Chart Source: TradingView Gold is being buoyed despite these headwinds by geopolitical uncertainty, including the Russia-Ukraine conflict that continues to fuel demand for assets that are perceived as being safer in times of uncertainty. In addition, anticipation of additional interest rate reductions by the Federal Reserve may keep the US Dollar from appreciating much, providing some degree of support for gold. With markets waiting for major US economic releases, such as the JOLTS report and non-farm payrolls, there is a degree of caution, with investors seeking greater clarity on the monetary policy of the Fed and how it may affect both the Dollar and gold. TECHNICAL ANALYSIS Gold prices are now testing crucial support levels near $3,260, and a possible breakdown below here could indicate more downside risk. If the price is unable to hold this support, it could trigger a move towards the $3,225 area or even the psychological $3,200 level. On the positive side, gold encounters resistance around the $3,331-$3,332 levels, and a firm break above this level can possibly pave the way for a bounce back to the $3,366-$3,368 supply zone. A strong push above this zone can potentially pave the way for a larger rally, with the $3,400 level and higher serving as key targets for bulls. The major price action over the next few days will be largely influenced by the interaction of general economic data and geopolitical events. FORECAST Gold may see a bounce if geopolitical tensions, including the Russia-Ukraine conflict, keep

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Commodities Gold

Gold Price Plunges Below $3,300 Due to Trade Tensions and Resilient US Dollar

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  • April 26, 2025
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Gold prices plummeted below the $3,300 level as escalated trade tensions between the US and China, combined with a strong US Dollar, weighed down market sentiment. In spite of declining US Treasury yields and weaker DXY movements, bullion could not sustain its latest gains, falling more than 1.60% to about $3,294. Uncertainty increased after President Trump declined to roll back tariffs on China unless more concessions were made, going back on previous optimism. Simultaneously, weaker US consumer sentiment and a jittery economic outlook prior to important data releases — such as GDP, ISM Manufacturing PMI, and Nonfarm Payrolls — kept traders on their toes. Technically, Gold is still in an uptrend but stands at risk of further corrections if major support levels are breached. KEY LOOKOUTS • Gold may test near-term support at $3,250; a breakdown can lead the way to $3,167 and the 50-day SMA of $3,041. • Traders will be keenly observing the US JOLTS report, Q1 GDP, ISM Manufacturing PMI, and April’s Nonfarm Payrolls for new market guidance. • While the Fed is likely to keep rates unchanged in the next meeting, traders are factoring in 86 basis points of rate cuts by the end of the year. • Market mood remains extremely sensitive to any fresh updates in the US-China trade negotiations, particularly after Trump’s recent tariff comments. Traders would need to watch Gold closely near the $3,250 support level, and a breakdown below it may trigger further declines toward $3,167 and the 50-day Simple Moving Average (SMA) at $3,041. Focus will also be on significant US economic releases next week, such as the JOLTS report, Q1 GDP numbers, ISM Manufacturing PMI, and April’s Nonfarm Payrolls, which can have a substantial impact on market sentiment. On the monetary policy side, although the Federal Reserve is generally expected to leave interest rates unchanged at the next meeting, markets continue to price in approximately 86 basis points of rate cuts through the end of 2025. Furthermore, US-China trade negotiations will continue to be a key driver for risk sentiment, after President Trump’s insistence on keeping tariffs in place without additional Chinese concessions. Gold traders closely monitor the $3,250 support level, with further losses likely if broken. Major US data such as GDP, ISM PMI, and Nonfarm Payrolls will be major drivers of market action next week. Trade tensions and Fed rate expectations will continue to be heavy-handed influences as well. •  Gold continues under pressure due to changing market sentiment amid US-China trade tensions. •   President Trump’s resolve on keeping tariffs without Chinese concessions has unnerved markets. •   US Dollar strength remains a drag on investor demand for Gold. •   Markets are gearing up for a hectic week as major US economic data releases, including Q1 GDP and Nonfarm Payrolls, are coming up. •  US consumer sentiment declined in April, reaching one of the lowest points in the post-1970s period. •   Even with declining US Treasury yields, Gold did not see substantial safe-haven demand. •   Federal Reserve policy expectations continue to be in the spotlight, with markets factoring in possible rate cuts later this year. Gold continues to be under pressure as market sentiment oscillates between optimism and caution, largely influenced by the continuing trade tensions between the United States and China. Hopes for de-escalation were smothered after President Trump indicated that tariffs on Chinese imports would not come down without additional concessions, backtracking on previous positive signals from Beijing. That change in tone has kept traders cautious and added to an overall risk-averse market backdrop as the markets approach a hectic week of economic data. XAU/USD DAILY CHART PRICE CHART SOURCE: TradingView Over the next several days, investors will be paying attention to major US releases such as the JOLTS job openings, initial Q1 GDP reading, ISM Manufacturing PMI, and April’s Nonfarm Payrolls. These releases will be looked to as offering essential information on the condition of the US economy and guiding expectations around future Federal Reserve policy actions. Concurrently, general global market uncertainty and US-China developments will be influencing overall risk appetite as well. TECHNICAL ANALYSIS The wider gold uptrend holds, yet the failure to maintain gains over the $3,300 mark indicates diminishing bullish momentum. The waning strength is mirrored in the Relative Strength Index (RSI), where the evidence points toward declining control by the buyers on the short-term side. With further selling pressure, the next significant support level is at $3,250, and then lower levels towards $3,167 and the 50-day Simple Moving Average (SMA) level of $3,041. On the positive side, a bounce above $3,300 may attract new buying interest, with near-term resistance at $3,386, and additional barriers at $3,400 and $3,450. FORECAST Gold is able to regain strength and retake the $3,300 level, it may pave the way for a new rally. The first strong resistance level to watch is $3,386, last month’s high set on April 22. A decisive penetration of this figure might tempt bulls to drive the prices to the psychological level at $3,400. Thereafter, potential targets are at $3,450 and $3,500 eventually, where firmer selling interest may become more active again. Renewed risk-off tone, soft US economic reports, or a pullback in the US Dollar would drive this upside action. Conversely, inability to sustain above $3,300 would leave Gold open to more weakness. Initial support is at $3,250, a price that if violated, may unleash a more extensive correction to $3,167. A breakout below this may even challenge the 50-day Simple Moving Average (SMA) of $3,041. Further US Dollar strength, supportive US economic statistics, or improving geopolitical tensions might put pressure on Gold and exert downward pressure on prices in the short term.

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Commodities Gold

Gold Shines Bright: Prices Rally Amid Dollar Weakness and Trade Uncertainty

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  • April 19, 2025
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Gold prices ended the week on a high, gaining more than 2.79% as escalating trade tensions, geopolitical uncertainty, and a declining US Dollar stoked investor appetite for the safe-haven metal. Although hawkish rhetoric by Federal Reserve policymakers, such as Chair Jerome Powell and San Francisco Fed President Mary Daly, momentarily capped gains briefly, gold still managed to maintain above critical technical levels. The precious metal nudged a fresh all-time high of $3,358 before easing back marginally to $3,326, as market participants booked profits ahead of the long Easter break. Looking forward, all attention is fixed on US economic releases ahead, which will determine the next move of the dollar and the gold. KEY LOOKOUTS • Next week’s releases, which are the S&P Global Flash PMIs, Durable Goods Orders, and the University of Michigan final Consumer Sentiment report, will all be closely watched by traders and could decide gold’s next move. •  A crowded calendar of Fed speakers may provide new information on interest rate expectations, particularly following Powell’s recent hawkish comments that signaled ongoing policy tightening. • Gold is still in an uptrend, with $3,300 as pivotal support and the $3,350–$3,400 area providing the next resistance area. A break above would indicate new all-time highs. • Prolonged global trade tensions and geopolitical concerns are set to continue propping up gold safe-haven demand, despite the rise in real yields and Fed caution. Gold traders will continue to focus on some significant catalysts which may direct price action over the next few days. A hectic US economic calendar, with Flash PMIs, Durable Goods Orders, and the University of Michigan Consumer Sentiment survey, will provide new hints about the state of the economy and possible interest rate action. In addition, a series of speeches by Federal Reserve officials may back up or undermine the market’s existing rate assumptions, particularly in the wake of Powell’s recent hawkish comments. On the technical front, gold still trades above key support levels at $3,300, and a move through $3,350 may pave the way for a new record high. At the same time, unresolved trade tensions and geopolitical threats are set to continue keeping safe-haven demand active, supporting bullion beneath on-the-nose real yields rising. Gold traders will look to next week’s US economic releases and Fed speeches for new rate signals. Technical levels in the $3,300–$3,350 range continue to be key to direction. Geopolitical tensions and trade uncertainty should continue to support safe-haven demand. •  Gold prices rallied more than 2.79% this week, driven by a weaker US Dollar as global trade tensions and geopolitical risks escalate. •  XAU/USD reached a record high of $3,358 before profit-taking took prices back to $3,326 in the run-up to the extended Easter weekend. •  Federal Reserve’s hawkishness, including comments by Powell and Daly, capped further gains but not the trend for gold prices to the upside. •  US 10-year Treasury yields rose to 4.333%, with real yields increasing — posing short-term headwinds for gold prices. •  Technical perspective is bullish as far as prices remain above the $3,300 support level, with sights on $3,350 and $3,400 as the next goals. •  Investors look ahead to a packed week of US data, which includes Flash PMIs, Durable Goods Orders, and Consumer Sentiment, for new direction in the markets. •  Continued trade and geopolitical uncertainty continues to underpin safe-haven demand for gold despite rising real yields. Gold closed the week on an upbeat note as international trade tensions and geopolitical risks continued to push investors towards safe-haven assets. Even with assurances from the Federal Reserve on the robustness of the U.S. economy, ongoing worries surrounding global trade policy and possible slowdowns in the economy maintained the demand for gold firm. Market sentiment was also affected by increasing perceptions that the Federal Reserve’s interest rate stance could stay restrictive for a longer period, contributing to the risk-averse sentiment in global markets. XAU/USD DAILY PRICE CHART CHART SOURCE: TradingView Besides trade and policy issues, investor attention is also being diverted towards next week’s release of some of the most important U.S. economic indicators, which will provide further insight into the state of the economy. A busy slate, which includes manufacturing activity, durable goods orders, and consumer sentiment readings, is likely to frame market expectations for the period ahead. Geopolitical tensions and worldwide uncertainty, however, are expected to maintain gold as an asset of choice for risk-averse investors. TECHNICAL ANALYSIS Gold’s upmove is intact despite experiencing some profit-taking pressure after hitting its all-time high of $3,358. The precious metal still maintains above the crucial support level of $3,300, indicating that buyers are still present on pullbacks. A break above the $3,350 level for a sustained period could pave the way for another attempt towards the $3,400 psychological mark. While the Relative Strength Index (RSI) suggests overbought levels, the absence of substantial downside follow-through suggests limited selling interest at this time. So long as prices hold above the April 16 low of $3,229, the larger uptrend is likely to remain intact. FORECAST Gold’s upmove is firmly supported as long as prices are above the $3,300 level. A decisive break over $3,350 may see fresh buying strength, setting the stage for a possible retest of the record high at $3,358. If tensions in global trade and geopolitical uncertainties continue, safe-haven buying could intensify, driving gold to the next psychological level of $3,400. On the negative side, any inability to stay above the $3,300 support line may result in a more profound correction, with the next support being close to the April 16 low of $3,229. Increasing US real yields and Federal Reserve hawkish hints may dampen gold’s attractiveness in the short term, raising the chances of a pullback if economic reports surprise to the upside.

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Commodities Gold

Gold Hits All-Time High as US-China Trade War Fosters Global Run to Safety

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  • April 12, 2025
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Gold jumped to a record high of $3,245 as rising trade tensions between the US and China shook global markets, pushing investors into safe-haven assets. The yellow metal registered more than 2% gains following China’s retaliatory 125% tariffs and the US Dollar Index falling to a 35-month low of 99.01. In spite of higher US Treasury yields and mixed economic reports, such as weaker producer inflation and decreasing consumer sentiment, recession concerns and inflation uncertainty spurred additional demand for gold. As the uptrend remains firmly in place, the market is now looking to the $3,250 and $3,300 levels as it prepares for further volatility. KEY LOOKOUTS • Since crossing the all-time high of $3,245, gold prices are now looking to breach the $3,250 and $3,300 resistance levels amid ongoing market uncertainty. • Increased tensions following China’s 125% counter-tariffs and the US raising tariffs to 145% are set to maintain risk-off sentiment high. • Increasing inflation expectations and escalating recession concerns, underscored by weaker consumer sentiment and cautious Fed policy expectations, remain bolstering gold’s safe-haven appeal. • The decline in the USD Index to a 35-month trough of 99.01 fuels gold’s rally, with ongoing falls set to support bullion demand. Gold continued its history-making rally as rising trade tensions between China and the US helped drive a rush into safe-haven assets on a global level. The yellow metal broke the $3,245 barrier supported by a plunge in the US Dollar Index to a 35-month low of 99.01. Investors fled to bullion when China struck back at the US by imposing 125% tariffs after Washington boosted duties on Chinese imports to 145%. Even with the increase in US Treasury yields and conflicting economic news — such as a decline in producer inflation and weakening consumer sentiment — concerns over an impending recession and increased inflation expectations maintained the bullish momentum in gold, now targeting the $3,250 and $3,300 resistance levels. Gold rallied to a new record high of $3,245 as the US-China trade tensions escalated, leading to a global rush for safe-haven assets. A declining US Dollar and growing recession concerns further added to the metal’s bullish strength, with investors now targeting the $3,250 and $3,300 levels. • Gold prices hit an all-time high of $3,245, recording more than 2% gains amid heightened US-China trade tensions. • China retaliated with 125% tariffs against the US raising duties to 145%, triggering global market volatility. • Safe-haven demand increased as recession concerns escalated, driving gold’s rally in spite of rising US Treasury yields. • The USD Index plunged to 99.01 — its lowest since almost three years ago — strengthening gold’s bullish breakout. • The University of Michigan’s Consumer Sentiment Index plummeted sharply, indicating increased economic pessimism and inflationary concerns. • Large US banks such as JPMorgan and Goldman Sachs indicated growing recession likelihood as global uncertainty continues to mount. • Gold is solidly in an uptrend, and traders are eyeing a breach above $3,250 with a possible charge towards $3,300. Gold has surged to an all-time high of $3,245 due to the escalating US-China trade war, which triggered a global rotation towards safer assets. Following US tariff increases, China struck back and added 125% tariffs on US goods, a move that generated a climate of increased uncertainty, further escalating demand for the precious metal. Amidst the jittery market and fear of a slowdown in the economy, investors turned to gold as they perceived it as a safe haven of value in the midst of the chaos. XAU/USD DAILY PRICE CHART CHART SOURCE: TradingView At the same time, the US dollar lost considerable strength, with the Dollar Index dropping to its lowest point in almost three years, contributing further to the rally in gold. US economic sentiment also suffered, as inflation expectations increased and consumer sentiment hit rock bottom. All of these variables combined to establish an environment of trepidation, as investors flocked to the safety and stability that gold historically offers amid periods of geopolitical and economic tension. TECHNICAL ANALYSIS The recent price action of gold has been strong, breaking above major resistance levels at $3,100 and $3,200 to record a new all-time high price of $3,245. The uptrend is still in place, with bulls eyeing the $3,250 and $3,300 levels as possible breakout points. In the event of a pullback, support comes in at the $3,200 level, with the next major level at $3,176. As long as gold continues to be on an upward trend, investors are bullish on more gains, especially if the current resistance points are broken. The strength of gold’s rally is highlighted by its ability to stay above key support levels even in the face of overall market volatility. FORECAST Gold’s price will continue to go up in the near future, fueled by continued geopolitical tensions and economic uncertainty. As the US-China trade war continues unabated and concerns over inflation are still elevated, demand for safe-haven currencies such as gold is likely to continue. The weakening US currency and the expectation of a slow-down in economic growth are bound to fuel the rally in gold, driving prices to new levels of resistance around $3,250 and $3,300. Investors looking for security during uncertain times will continue to prefer gold, making it a likely candidate to make even more gains. On the other hand, if gold can’t sustain its current rhythm, it could face a correction, especially if the global economy brightens or trade tensions dissipate. A sudden spike in the US dollar or an unforeseen change in Federal Reserve policy would put downward pressure on gold. In this scenario, gold could find support near the $3,200 mark, with subsequent drops possibly challenging the $3,176 or $3,100 levels. Eroding investor sentiment in gold as a safe-haven investment could also bring about a retreat, particularly if market conditions become stable.

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Commodities Gold

Gold Stays Steady Above $3,000 Due to Tariff Uncertainty: Markets Wait to See Trump’s Hand

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  • March 24, 2025
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Gold prices stay firm at just above $3,000, firming at around $3,020 after a recent decline, as markets wait warily for the April 2 deadline for new U.S. tariffs in the Trump administration. Cues that there might be a switch from tariffs in general to specific sector-specific tariffs have caused relief as fears of a sweeping trade war abated. But underlying concerns remain, keeping pressure on gold. Also, activity in the gold sector, such as Gold Fields’ rejected bid for Gold Road Resources and Zijin Mining’s solid profit growth, reflects continued strength and investor appetite for bullion, fueled by economic uncertainties, tariff tensions, and rising central bank and ETF demand. Technical analysis shows significant support at $3,000, with traders keenly observing for any new developments that might push gold to new highs or induce further losses. KEY LOOKOUTS                                                 • Traders need to watch closely for any official word from the Trump administration on the scope and intensity of the proposed tariffs, as a change from broad to targeted tariffs could have a big impact on gold prices. • The near-term support at the psychological $3,000 figure is essential. Any prolonged break below this figure might spur further downside pressure, targeting next supports at $2,998 (S1) and possibly $2,975 (S2). • Monitor sector-specific news, including Gold Fields’ bid efforts and Zijin Mining’s strong earnings, that gauge overall market sentiment towards gold and might spur total bullish or bearish momentum. • Ongoing central bank buying activity and rising inflows into Gold ETFs will continue to be key gauges of underlying investor sentiment, which could propel longer-term bullion price trends in the face of geopolitical uncertainty. Investors are monitoring events surrounding the April 2 tariff deadline closely, as President Trump’s move to potentially abandon broad tariffs in favor of targeted, sector-specific actions has the potential to greatly impact market sentiment and gold price action. Technically, the key $3,000 support is still in focus, and any break of this level would be expected to increase downward pressure towards lower levels of support. Furthermore, recent corporate news, including Gold Fields’ failed takeover offer for Gold Road Resources and Zijin Mining’s record profits, underlines ongoing strength and investor appetite for the gold sector. Demand patterns from central banks and ETF inflows are also key barometers that investors will closely watch for evidence of ongoing bullish momentum or rising frailties in the gold market. Gold holds firm above $3,000, waiting for more detail about future U.S. tariffs that have a deadline of April 2. Investors watch closely for Trump’s next steps, company sector activity, and ETF demand to determine future price direction with ongoing market uncertainty. • Gold prices stabilize above $3,000 following recent volatility, now at around $3,020. • Markets look to the April 2 deadline for possible new U.S. tariffs, key to short-term gold action. • Trump administration weighs targeted tariffs rather than sweeping, broad-based action, calming some market fears. • $3,000 is still key technical support; a break below this level may set off further declines. • Gold Fields’ spurned bid for Gold Road Resources indicates continued consolidation in the gold industry. • Chinese mining group Zijin Mining reports record profits fueled by surging gold and copper prices, indicating optimistic investor sentiment. • Growing gold ETF and central bank investments continue to provide support for long-term bullion price support. Gold prices are flat around the critical level of $3,000 awaiting the impending tariff announcement by United States President Donald Trump, planned for April 2. Hints that it would switch to selective tariffs impacting particular industries or areas have allayed a degree of anxiety on the market while uncertainty remains present. Market players are more alert to the prospects of the adjustments in tariffs given that they hold the potential to greatly alter the dynamics of world trade as well as the performance of economies. XAU/USD Daily Price Chart Chart Source: TradingView Additionally, corporate activity within the gold sector indicates ongoing investor confidence and consolidation. Gold Fields recently proposed an acquisition of Australia’s Gold Road Resources, which was subsequently rejected, signaling strategic moves among key players in the industry. At the same time, China’s Zijin Mining posted record profits driven by greater world demand for gold and copper, echoing more general bullish sentiment toward precious metals in response to increased geopolitical tensions and economic uncertainties. Central banks and gold ETF investment also remain steady backers, further solidifying gold’s status as a safe-haven asset amidst unpredictable times. TECHNICAL ANALYSIS Gold is stabilizing right now just above the critical support level at $3,000, with the near-term pivot point at $3,023 serving as a short-term guideline for investors. The key resistance is at $3,046, and the all-time high at $3,057 may come into play if bulls reemerge. On the negative side, the $3,000 psychological level is still a key level; a break below that would trigger further selling pressure, with next support levels at $2,998 and $2,975. Market participants should watch these important technical levels closely, as they will most likely determine gold’s short-term price direction in the face of changing tariff news and market developments. FORECAST If President Trump’s government chooses to introduce more cautious, sector-level tariffs or otherwise indicates further weakening of trade policy before the deadline of April 2, then gold prices would likely see revived upward momentum. Also, renewed central bank demand and rising flows into Gold ETFs would sustain bullish sentiment that could push the prices back up to recent peaks of around $3,057. But if tariff tensions grow or uncertainty picks up, markets could witness growing selling pressure in gold, and prices could test critical psychological support levels around $3,000. A clean break below this crucial level, fueled by fresh doubts over broader economic ramifications or adverse corporate news, could prolong the downside, and prices could be pushed into lower support levels of around $2,975.

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Commodities Gold

Gold’s Historic Leap Above $3,000: Market Responses, Geopolitical Uncertainty, and Prospects Ahead

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  • March 15, 2025
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Gold prices leapt above the historic $3,000 level to an all-time high of $3,004 per ounce before retreating to $2,982 due to US Dollar fluctuations and uncertainty regarding President Donald Trump’s trade agenda. The price rally was propelled by geopolitical uncertainties, such as the weakening Russia-Ukraine ceasefire and China’s ongoing gold buildup, which drove demand for the safe-haven metal. At the same time, fears of US recession intensified in the wake of soft consumer sentiment readings, fueling speculation about further easing of Federal Reserve policy in 2025. Despite the retreat, technical analysts foresee another attempt to drive prices higher to test resistance levels with support at $2,950 and resistance at $3,050 and $3,100 being key. KEY LOOKOUTS • Having briefly breached $3,000, gold bounces off $3,050 while support at $2,950 is still the key to knowing what will happen next. • Russia-Ukraine ceasefire uncertainty and China’s continuing gold purchases would potentially affect bullion demand and price movements. • Subdued consumer confidence and increasing recession worries boost hopes for Federal Reserve rate reductions, affecting the long-term outlook of gold. • Trump’s tariffs on steel and aluminum can stoke inflation fears, impacting the US Dollar and pushing gold prices up as a safe-haven. Gold’s recent rally above $3,000 underscores the increasing influence of geopolitical tensions, economic uncertainty, and changing monetary policies on the demand for the precious metal. The Russia-Ukraine ceasefire is still tenuous, while China’s ongoing gold hoarding underpins bullish sentiment. At the same time, US recession concerns have grown amid weak consumer sentiment numbers, increasing expectations of possible Federal Reserve rate reductions in 2025. Also, President Trump’s steel and aluminum tariffs have fueled inflationary fears, diminishing the US Dollar and further supporting gold as a safe-haven asset. While traders closely follow future economic data and Fed moves, gold’s capacity to hold onto its all-time highs will hinge on changing market dynamics. Gold’s historical rally above $3,000 is a response to increasing geopolitical risks, economic uncertainty, and inflation threats. Negative US consumer sentiment and expectations of Fed rate cuts drive bullish pressures, while Trump’s tariffs impose stress on the US Dollar, enhancing gold’s safe-haven appeal. • Gold momentarily peaked at a new all-time high of $3,004 per ounce before receding to $2,982 due to market volatility. • Failing Russia-Ukraine truce and persistent China gold buildup stimulate safe-haven demand for bullion. • Dovish consumer sentiment information heightens prospects of economic slow-down, sparking Federal Reserve interest rate reduction anticipations for 2025. • New import tariffs on aluminum and steel set off inflation concern, drenching the US Dollar while perpetuating bull-run in gold. • Soft Greenback spurs gold prices upward, though Treasuries market yield shifts as well as expected inflation provide variability. • Gold is resisted at $3,050 and $3,100, with very strong support at $2,950, followed by $2,900 and $2,850. • Investors look forward to next week’s Federal Reserve policy meeting for additional hints at interest rates and economic forecasts. Gold’s recent record of breaching $3,000 an ounce underscores growing global demand for safe-haven assets in light of increasing geopolitical and economic uncertainty. The ongoing Russia-Ukraine conflict, despite ceasefire efforts, remains a major factor influencing investor sentiment. Meanwhile, China’s central bank continues to expand its gold reserves, signaling strong institutional demand. The combination of these geopolitical risks and global market instability has further reinforced gold’s position as a preferred store of value. Furthermore, trade tensions, specifically US President Donald Trump’s tariffs on steel and aluminum, have stoked inflation fears, rendering gold a sought-after hedge against economic uncertainty. XAU/USD Daily Price Chart Chart Source: TradingView Apart from geopolitics and trade policies, the US economy is also at the center of influencing gold’s demand. A sudden drop in consumer confidence, fueled by fears of economic slowdown, has increased speculation that the Federal Reserve could relax monetary policy in 2025. The potential for lower interest rates and a weakening US Dollar enhances gold’s attractiveness as an alternative asset. Investors are eagerly awaiting future economic releases, such as retail sales and housing market reports, for additional clues regarding the health of the US economy. While uncertainty lingers, gold continues to be the focal point of investor attention, mirroring general anxiety regarding inflation, economic stability, and worldwide financial trends. TECHNICAL ANALYSIS Gold’s technical picture indicates a phase of consolidation following a brief move above the $3,000 mark. The metal encountered resistance around $3,004 before retreating, signaling profit-taking and a temporary respite in bullish pressure. The important support is around $2,950, which if broken, can send prices lower to $2,900 and $2,850. On the other side, a consistent rally above $3,000 can put the fence open for another test of $3,050 and maybe $3,100. Traders are in wait-and-see mode regarding the Federal Reserve’s monetary policy decision, with expectations of interest rates influencing gold’s next move. FORECAST Gold’s upswing is in place as geopolitics, rising inflation expectations, and possible Federal Reserve rate reductions underpin prices higher. Gold can trigger yet another push upward to the next resistance levels at $3,050 and $3,100 if it stays above $3,000. Ongoing central bank purchases, especially from China, and weakening US Dollar may underpin additional support for the rally. Moreover, any increase in geopolitical tensions or dovishness from the Fed can fuel safe-haven demand, supporting gold’s long-term uptrend. Gold has good fundamentals but is exposed to downside risks if profit-taking becomes more aggressive or the US Dollar rallies unexpectedly. A fall below the critical support level of $2,950 can trigger a deeper correction towards $2,900 and $2,850. If economic reports, including retail sales or housing data, beat expectations, they may decrease the chances of aggressive Fed rate cuts, capping gold’s gains. Additionally, if inflation continues to be contained and risk appetite grows, investors will turn their attention to other assets or equities and temporarily put pressure on gold prices.

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Commodities Gold

Gold Price Reaches Two-Week High as Trade Tensions, Fed Rate Cut Speculation Continue to Fuel Bullishness

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  • March 13, 2025
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Gold prices have continued to push higher, touching a two-week high as trade tensions, expectations of a Fed rate cut, and a lower US Dollar drive strong support. Concerns that the economic costs of President Trump’s tariffs on steel and aluminum imports would prompt the EU and Canada to respond with their own measures have fuelled demand for safe-haven assets such as gold. In addition, hopes for multiple rate cuts this year by the Federal Reserve amid a slowing labor market and decreasing inflation have only added to gold’s allure. With the US Dollar close to multi-month lows, technical considerations indicate that gold could go higher, potentially into its all-time high of $2,956. KEY LOOKOUTS • Concerns about increasing US President Trump tariffs and heightened trade tensions against the EU and Canada remain pushing safe-haven demand for gold. • Gold’s attractiveness grows with hopes for several Federal Reserve interest rate reductions this year under diminishing inflation and signs of moderation in the labor market. • A low US Dollar, closer to multi-month lows, contributes to further bullish support for gold, which has made it an even more sought-after asset for alternative assets investors. • Gold’s recent breakout above major resistance levels indicates additional upside potential, with the all-time high of $2,956 within reach if the momentum continues. Gold prices have been trending higher, fueled by fears of rising trade tensions, especially President Trump’s tariffs and retaliatory actions by the EU and Canada. These concerns have prompted investors to seek refuge in gold. Moreover, anticipation of several Federal Reserve rate reductions in the course of this year, driven by the evidence of deceleration in the labor market and decelerating inflation, has supported the attractiveness of gold further. The US Dollar, downgraded to multi-month levels, still supports gold, with it remaining an investor darling. With technical levels pointing toward ongoing momentum, gold is looking to test its record high, which further entrenches the bull case for the metal. Gold prices are rising, boosted by increasing trade tensions and Federal Reserve rate cut hopes. Weakness in the US Dollar is also boosting gold’s attractiveness, bringing it near its all-time high. • Increasing fears surrounding US tariffs and retaliation from the EU and Canada are compelling investors to seek safety in havens such as gold. • Wagers on several Federal Reserve rate reductions this year are supporting gold, as diminishing rates enhance the attractiveness of non-yielding assets. • A battered US Dollar, close to multi-month lows, is also lending support to gold, making it more appealing to investors. • Concerns over possible economic repercussions from trade wars and slowing inflation are still driving demand for gold. • A break above crucial resistance levels, such as $2,928-2,930, indicates additional upside potential, potentially reaching its record high of $2,956. • A lower-than-expected US inflation reading has boosted the rate cut expectations further, supporting gold’s price rally further. • While geopolitical uncertainties increase, gold continues to be a top choice as a hedge against market uncertainty, showing strong upward momentum in the short run. Gold prices have been trending higher on increased concerns about trade tensions, mainly President Trump’s steel and aluminum tariffs on foreign imports and resulting retaliations by the EU and Canada. Such fears of future economic slowdown are prompting investors towards gold, long regarded as a safe-haven investment when markets are uncertain. The growing market volatility from the current trade tensions has further driven demand for gold, as it is seen as a safe store of value amid geopolitical uncertainty. GOLD DAILY PRICE CHART CHART SOURCE: TradingView Besides trade worries, hopes for several Federal Reserve rate cuts throughout the year have also helped to increase gold’s appeal. With signs of a cooling labor market and easing inflation, many market participants are betting that the Federal Reserve will ease monetary policy, which supports non-yielding assets like gold. Meanwhile, a weakening US Dollar continues to provide favorable conditions for gold, as it makes the precious metal more attractive to investors looking for alternatives. Consequently, gold is in a solid uptrend, with investors following developments in the global economy very closely. TECHNICAL ANALYSIS Gold prices have demonstrated strong bullish momentum, overcoming key resistance levels, such as the $2,928-2,930 range, opening the way for additional potential on the upside. The price action suggests gold is ready to test its all-time high of $2,956, with oscillators on the daily chart still firmly in positive ground, indicating room for further extension without touching overbought levels. So long as gold remains above the pivotal $2,930 support level, the outlook is good, and the rising trend can extend towards new highs. FORECAST Gold prices are set to maintain their rising trend, driven by persisting trade tensions and a softening US Dollar. As investor worries regarding the economic effect of tariffs and the risk of slowing down remain, demand for safe-haven gold should be firm. Furthermore, if Federal Reserve rate-cut hopes become a reality, this will add support to gold, taking prices to the all-time high of $2,956. With technical indicators continuing to reflect positive momentum, gold may break resistance levels and experience additional gains in the near future. Conversely, however, if the geopolitical environment stabilizes and trade tensions subside, there may be a gold price pullback as investor interest in safe-haven investments dissipates. A better-than-expected economic recovery or more aggressive Federal Reserve tightening of monetary policy could also blunt the attractiveness of gold. In these situations, gold could come under pressure, dropping back towards support levels near $2,912-$2,900 and potentially even lower in the event of a shift in favorable market conditions toward risk assets.

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Commodities Gold

Gold Glimmers As Dollar Loses Strength: XAU/USD Breaks Over $2,910 Amid Global Market Nervousness

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  • March 11, 2025
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Gold prices rose to an incredible high on Tuesday, pushing up over the vital $2,900 level to test levels at around $2,910 on the back of a weakening US Dollar. A new injection into the Euro in response to the news of an imminent German defense spending agreement unleashed a domino effect, sliding the US Dollar Index and enhancing demand for the safe-haven metal. Simultaneously, global market mood is still susceptible to the escalating tariff tensions between Canada and China. With investors looking to the next Federal Reserve meeting on March 19 and the CME FedWatch Tool indicating a high chance of unchanged rates, Gold remains supported, both technically and fundamentally, as it wipes out early-week losses and gains bullish traction. KEY LOOKOUTS • Gold is trading above $2,910; a break above R1 may drive prices towards $2,933, in line with last week’s highs. • A softer US Dollar, prompted by Euro strength, continues to underpin Gold’s rally, maintaining bullish momentum in the short term. • Markets expect no rate change on March 19, but increasing rate-cut expectations for May may further shape Gold’s price action. • Persistent global tariff tensions and recession concerns add to Gold’s safe-haven allure, keeping investors wary yet hopeful of further gains. Gold are still closely correlated with wider macroeconomic and geopolitical events. The recent breakout over $2,910 emphasizes its potential for higher prices, with sights set on the next level of resistance at $2,933, coinciding with last week’s highs. A declining US Dollar, driven by a strengthening Euro off the back of Germany’s defense spending news, continues to drive bullish momentum in Gold. Further, investors are following the Federal Reserve’s policy meeting on March 19, at which no rate adjustment is anticipated, but the chances of a rate reduction in May are increasing. On the other hand, global trade tensions and fears of recession are boosting Gold as a safe-haven asset. Gold’s increase over $2,910 indicates strong bullish sentiment, with support coming from a depreciating US Dollar and geopolitics. Traders now focus on the March 19 Federal Reserve meeting, while global trade tensions further augment Gold’s safe-haven demand. • Gold prices recover strongly, rising above the $2,910 level and wiping out early-week losses. • Weaker US Dollar propels Gold, fueled by Euro strength following Germany’s defense spending deal headlines. • Technical breakout opportunity arises as Gold approaches resistance at $2,933, last week’s high. • Safe-haven demand increases as global trade tensions escalate and concerns of a possible economic slowdown grow. • CME FedWatch Tool indicates a 95% probability of no rate hike on March 19, but a 47.8% probability of a cut in May. • Support zone remains firm at $2,880–$2,873, keeping Gold technically supported for the time being. • Thai Baht gains from Gold rally, reflecting Thailand’s status as a regional Gold-trading hub amid currency market shifts. Gold remains in the limelight as economic and political changes around the world shape market sentiment. One major driver of Gold’s popularity is the weakening US Dollar, which was under pressure after reports of a possible defense budget agreement in Germany. This move supported the Euro and, in turn, pushed demand for the precious metal higher indirectly. With increasing uncertainties, Gold remains a trusted safe-haven asset, providing investors with a buffer against volatility in conventional markets. XAU/USD Daily Price Chart Chart Source: TradingView Meanwhile, geopolitical tensions are also a dominant theme influencing market sentiment. The growing trade tensions between Canada and China, as well as the fear of wider tariff wars, is spurring caution in global markets. Investors are also monitoring the upcoming Federal Reserve meeting closely, as interest rate announcements can have implications for the overall economic direction. In such a setting, Gold remains steadfast as a safe haven of value, drawing in those looking for stability in the midst of the tempest. TECHNICAL ANALYSIS Gold has regained bullish momentum after taking back the crucial $2,900 level and moving towards $2,910. The metal has also crossed above the daily Pivot Point at $2,895, indicating strength in intraday trading. If purchasing interest remains, the following resistance level to be aware of is around $2,933, which matches last week’s highs. In contrast, support is seen to be strong at $2,880, which has remained in place in recent sessions. If it breaks here, it can potentially open doors towards further support around $2,873 and $2,857, presenting important zones to be watched out for by traders in the short term. FORECAST Gold may continue to rise in the following sessions. Its clear break above the $2,910 level may set the stage towards the next significant resistance near $2,933, which is also last week’s high. Breaking through this zone might reinforce buying confidence and drive Gold towards fresh short-term highs, provided the US Dollar continues to weaken and global tensions persist. Also, increasing hopes of a potential rate cut in the near future could further help Gold’s bullish outlook. Gold could see selling pressure. A fall below the support of $2,880 would lead to a move towards $2,873, and then a more significant correction towards about $2,857. These are crucial checkpoints for the traders, as a break below these levels could indicate a change in short-term momentum. Further, if the geopolitical tensions are alleviated or the Federal Reserve adopts a more hawkish approach in the next meeting, it might cap Gold’s upside and raise downside risks.

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