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Commodities Gold

Gold Falls on Robust US Jobs Data but Remains Ahead of Key Fed Meeting

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  • June 7, 2025
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Gold prices fell for a second consecutive day after a better-than-expected US May Nonfarm Payrolls (NFP) data sapped optimism for an immediate Federal Reserve rate cut and strengthened the US Dollar and Treasury yields. Even though it dropped 0.84% on Friday to $3,322, XAU/USD is poised to end the week with gains of more than 1.30%, underpinned by geopolitical tensions and central bank buying. Traders are now looking forward to next week’s inflation data releases and the Fed policy meeting soon, as the market re-adjusts for monetary easing further down the line in 2025. KEY LOOKOUTS • The strong NFP data lowers expectations for near-term rate reductions, with markets now pricing fewer than two cuts by the end of 2025. • XAU/USD needs to stay above the key $3,300 support or risk further losses down to $3,250 or lower. • Next week’s CPI, PPI, and University of Michigan Consumer Sentiment could continue to drive market sentiment and Fed policy expectations. • Tensions between Ukraine and the Middle East, and constant central bank gold buying, continue to offer a positive environment for Gold. Gold prices declined on Friday after a better-than-expected US jobs report strengthened the US Dollar and Treasury yields and lowered chances of near-term interest rate cuts by the Federal Reserve. Even after the day’s loss, XAU/USD is still up more than 1.30% for the week, buoyed by persistent geopolitical tensions and consistent central bank buying. The market is now setting its sights on pivotal US inflation data releases later next week, which may further influence expectations leading up to the Fed’s June 17–18 meeting. Staying above the $3,300 support level is still vital for Gold to continue its bullish configuration in the near term. Gold declined following robust US jobs data reduced expectations for a Fed rate cut, pushing the Dollar and yields higher. Gold maintains weekly gains above 1.30% despite the decline, underpinned by central bank purchases and geopolitical tensions. •  Gold (XAU/USD) declined by 0.84% on Friday, trading around $3,322 following robust US NFP data. •  The US created 139K jobs in May, topping estimates and maintaining the unemployment level at 4.2%. • Hawkish data prompted traders to trim back Fed rate cut expectations, boosting the US Dollar and Treasury yields. • Gold is poised to end the week with gains of more than 1.30% despite losses on each day of the current week. • Key support for XAU/USD at $3,300 holds; a break here could see $3,250 or lower. • Market attention turns to next week’s US CPI, PPI, and consumer sentiment releases. •  Long-term bullish sentiment is supported by ongoing geopolitics risks and central bank gold purchases. Gold was strong this week despite being challenged by a stronger-than-forecast US Nonfarm Payrolls for May. The on-going strength in the labor market, with 139K new jobs added and unemployment remaining at 4.2%, supported the view that the US economy is still strong. This information changed market expectations surrounding Federal Reserve interest rate trajectory, prompting investors to reduce rate reduction bets in the short term. This caused the US Dollar and Treasury yields to rise, which temporarily weakened Gold prices. XAU/USD DAILY PRICE CHART CHART SOURCE: TradingView Nonetheless, wider macroeconomic and geopolitical forces underpin the appeal of Gold as a safe-haven asset. Escalating tensions in Eastern Europe and the Middle East and persistent uncertainty among global financial markets have sustained demand for bullion. Further, central banks continue to buy Gold to diversify away from US Dollar reserves. These structural forces might still underpin the long-term value of Gold irrespective of short-term volatility in economic fundamentals or market sentiment. TECHNICAL ANALYSIS Gold (XAU/USD) is in an extended bull trend despite recent retreats. The price is consolidating above the support level of $3,300, which is a pivotal base for continued upward momentum. A breakout and hold above this level may set the stage for a retest of the high of late at $3,403, with additional upside to the $3,450 level and all-time high of $3,500. However, if XAU/USD breaches below $3,300, it could trigger a deeper correction toward the 50-day Simple Moving Average around $3,235. The Relative Strength Index (RSI) has turned slightly bearish, suggesting a possible continuation of short-term weakness before any rebound. FORECAST If Gold holds resistance above the $3,300 level, bullish interest may resume, which could propel XAU/USD back towards the recent high of $3,403. A breach above that level could attract additional buying, taking prices up to the $3,450 resistance zone. If bullish sentiment gains strength, particularly against a backdrop of geopolitical tensions or low inflation readings, Gold may even test its record high near $3,500 in the sessions ahead. On the other hand, a firm break below the $3,300 support would activate a steeper correction. In that case, Gold can go down towards the 50-day Simple Moving Average around $3,235, followed by the next major support area around $3,167, which was the high of early April. Strength in the US Dollar and increasing yields can provide additional pressure on the downside, especially if coming inflation data supports a hawkish Fed outlook.

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Commodities Gold

Gold Price Fights Back Near $3,350 as USD Rebounds and Geopolitical Fears Persist

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  • June 3, 2025
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Gold prices remained close to the $3,350 level, falling from a near four-week high as the US dollar maintained modest intraday gains. Despite some profit-taking pressure associated with the dollar’s recovery and upbeat risk sentiment in global markets, continued geopolitical tensions, US-China trade tensions, and fears about the US fiscal situation continue to drive demand for the safe-haven metal. Market participants also are wary in anticipation of Federal Reserve rate reductions in 2025, which could cap substantial price falls in gold. Technical indications indicate limited downside risk around key support points, but a breakout above $3,400 might set the stage for a new challenge of the $3,500 psychological level. KEY LOOKOUTS • Keep an eye out for additional USD strength or weakness, as it will be one of the main drivers of gold’s short-term price action. • Market expectations of rate cuts in 2025 will act as a ceiling for USD gains and will give underlying support to gold. • Continuing US-China trade tensions and escalating geopolitical tensions, such as the situation in Ukraine, may boost safe-haven demand for gold. • Monitor key support near $3,324–$3,326 and resistance around $3,400–$3,432, which will determine gold’s next directional move. Investors should closely monitor the US dollar’s trajectory, as its strength or weakness continues to heavily influence gold prices in the near term. Expectations for Federal Reserve rate cuts in 2025 are likely to limit aggressive USD rallies, providing a supportive backdrop for gold. In contrast, surging geopolitical tensions, notably between the US and China, and simmering conflicts like Ukraine are driving safe-haven demand for the metal. From a technical standpoint, gold’s action around crucial support points of $3,324–$3,326 and resistance levels of $3,400 to $3,432 will be decisive in ascertaining if the precious metal can continue its upward momentum or experience further pullbacks. Watch the US dollar’s action and Fed rate cutting expectations, which significantly influence gold prices. Geopolitical tensions and trade tensions are still supporting safe-haven demand. The next direction of gold will be driven by key technical levels between $3,324 and $3,432. • Gold price slightly below $3,350, easing from a near four-week high as there is a modest US dollar bounce. • Stronger USD and upbeat global risk appetite are weighing on haven gold. • Continuing US-China trade tensions and geopolitical risks sustain gold’s safe-haven demand. • Market anticipation of Federal Reserve rate cuts in 2025 serves to cap sharp falls in gold prices. • US fiscal outlook concerns contribute to USD caution, helping indirectly to support gold. • Technical support is around $3,324–$3,326, with resistance around $3,400–$3,432 key to further advances. • A sustained breakout above $3,432 may prompt an effort to try and retest the all-time highs around $3,500. Gold prices are currently trading just above the $3,350 level, somewhat driven by the US dollar’s modest retreat from recent lows. The strength of the dollar has prompted some investors to take some profits in gold, which is perceived as a safe-haven commodity. Yet the metal remains to gain from continued geopolitical tensions such as increasing trade tensions between China and the US and increased threats of the Ukrainian conflict. These risks are causing investors to remain defensive and underpinning gold demand as a hedge against global uncertainty. XAU/USD DAILY PRICE CHART CHART SOURCE: TradingView Concurrently, hopes that the Federal Reserve would reduce interest rates in 2025 are capping any sudden gains in the US dollar and offering underlying support to gold. Fears regarding the US fiscal outlook are also leading to a defensive mood towards the dollar, which tends to favor non-yielding assets such as gold. With these dynamics in place, gold stands to continue being an important asset for those investors who want to hedge in the face of a messy and uncertain global economic landscape. TECHNICAL ANALYSIS Gold just broke above important resistance levels of $3,324 to $3,326, indicating bullish sentiment among dealers. The ability of the price to stay above these levels of support indicates underlying strength, and the next key area to monitor is the $3,400 to $3,432 range, which may serve as resistance before gold tries to challenge its all-time highs. Technicals on daily and hourly charts continue to be bullish, suggesting that the overall direction remains towards more upside. But any protracted fall below the set support levels can pave the way for a more profound correction towards the $3,300 level. FORECAST If gold manages to maintain support above the $3,324–$3,326 area, it could gain momentum and push toward the next resistance zone around $3,400–$3,432. Breaking through this level would likely open the way for gold to challenge its all-time highs near $3,500, fueled by ongoing safe-haven demand amid geopolitical and economic uncertainties. On the flip side, a consistent drop below the $3,324 support might intensify selling pressure, which could propel gold prices lower to the $3,300 level or even beyond. Enhanced US dollar strength or an unexpected relief in geopolitical tensions may suppress the demand for gold, heightening the chances of a more extensive pullback in the short term.

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Commodities Gold

Gold Prices Float below $3,300 as Traders Look to US PCE Data with Trade and Geopolitical Uncertainty Looming

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  • May 30, 2025
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Gold prices are kept in check below the $3,300 level as tame U.S. Dollar firmness puts pressure to the downside before the highly anticipated release of the U.S. PCE Price Index. Despite the dip, downside movement appears limited amid renewed trade tensions, ongoing geopolitical risks, and persistent expectations of Federal Reserve rate cuts later in 2025. A reinstated tariff ruling and uncertainty surrounding global conflict zones have kept investor sentiment cautious, lending support to the safe-haven metal. Though technical indicators imply further downside potential, the majority of traders are in waiting mode for new impetus from U.S. inflation data, which could dictate the Fed’s policy direction. KEY LOOKOUTS • Everyone is watching for the next U.S. inflation data release, which has the potential to have a meaningful impact on the Federal Reserve’s rate cut expectations and near-term direction for the USD and gold. • Russia-Ukraine conflict developments and Middle East ceasefire negotiations still underpin safe-haven demand for gold, offering a potential defense against further losses. • Re-imposition of Trump’s tariffs and rumors of additional trade actions could inject pressure into the markets and indirectly support gold’s appeal in risk-off conditions. • Unclear signals from Fed officials regarding the timing and probability of interest rate reductions leave markets in suspense, rendering short-term gold direction dependent on upcoming data and comments. Investors should pay close attention to the publication of the U.S. PCE Price Index since it has the potential to dramatically alter expectations regarding the Federal Reserve’s interest rate policy and subsequently affect gold prices. Geopolitical tensions, such as the lack of progress in Middle East ceasefire talks and doubts over Russia-Ukraine peace negotiations, continue to provide support to gold’s safe-haven allure. Furthermore, the revival of trade policy uncertainty since the reinstatement of Trump-era tariffs has added additional market volatility, which has made gold a popular hedge. In contrast, conflicting signals from Federal Reserve officials underscore the significance of future economic releases in informing monetary policy, leaving traders nervous and price dynamics in gold very responsive to further developments. Gold traders are monitoring the next U.S. PCE Price Index closely for hints at the Fed’s rate trajectory. Geopolitical tensions and trade policy uncertainty remain in favor of gold’s safe-haven status, limiting downside even with nascent USD firmness. •  Gold stays under $3,300 due to mild U.S. Dollar strength suppressing demand. •  Markets look to the U.S. PCE Price Index, which may frame rate-cut expectations at the Fed. •  Reinstalled Trump-style tariffs introduce trade uncertainty that favors safe-haven assets such as gold. •  Geopolitical tensions in the Middle East and Eastern Europe keep supporting gold’s demand. •  Fed officials are still divided, sending conflicting signals on upcoming rate action. •  Technical indicators indicate bearish momentum, and there could be downside towards $3,245–$3,200. •  Resistance is at $3,325–$3,350 and the breach above might unleash fresh buying interest. Gold prices continue to weaken as market participants wait for the U.S. Personal Consumption Expenditures (PCE) Price Index to be released, a core inflation measure that may have implications for the monetary policy of the Federal Reserve. The information is likely to give more guidance on whether the Fed will continue with rate cuts in the second half of the year, a consideration that has made market players conservative. Although the U.S. Dollar has been mildly firmer, prospects of a more dovish Fed position in the months ahead still underpin interest in gold as a non-yielding asset generally. XAU/USD DAILY PRICE CHART CHART SOURCE: TradingView Besides economic statistics, growing geopolitical tensions and reviving trade policy anxieties are keeping gold in the spotlight as a safe-haven asset. The latest imposition of tariffs by a U.S. federal appeals court, along with concurrent wars in Eastern Europe and the Middle East, have contributed to worldwide uncertainty. These together with dovish comments by several Federal Reserve officials have been adding to a watch-and-wait mood in the market that has been upholding gold as a hedge against general macroeconomic and political uncertainty. TECHNICAL ANALYSIS Gold comes up against near-term resistance in the $3,325–$3,326 area, which has already failed to breach on higher attempts. The inability to break above the $3,300 level indicates no strong bullish strength, and short-term indicators are starting to reflect renewed selling pressure. If the price continues to have trouble below important resistance levels, a downward move to the next support zones could be expected. Yet any such sustained break above the $3,325 ceiling may initiate fresh buying interest and potentially leave the way open for a retest of upper levels. FORECAST If the future U.S. PCE figures indicate slowing inflation, this may further support Federal Reserve rate cuts later in the year, weakening the U.S. Dollar and driving gold prices higher. In that case, gold could see fresh buying interest, with room to test levels higher than the $3,300 mark. A continued break past the $3,325–$3,350 resistance level could prompt short-covering and propel prices towards the $3,400 area, buoyed by safe-haven demand as geopolitical and trade tensions continue to hold sway. Conversely, in the event of PCE data surprise to the upside signifying sticky inflation, it might temper hopes of near-future Fed rate cuts and enhance the U.S. Dollar, putting fresh downward pressure on gold. In such a scenario, prices might fall further, with scope to test support levels at $3,280 and potentially carry losses up to the $3,245–$3,200 region. Further dollar strength or resolve on trade and geopolitical fronts would also diminish the safe-haven demand for gold, contributing to the bearish risk.

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Commodities Gold

Gold Price Remains Steady Over $3,300 on Safe-Haven Demand That Continues Despite Key FOMC Minutes Approach

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  • May 28, 2025
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Gold prices continue to hold steady over the $3,300 level as safe-haven demand remains in place despite prevailing tensions in the geopolitical scene, US fiscal issues, and risk-averse sentiment prior to the release of the FOMC Minutes. Even with a modest recovery in the US Dollar and relaxed trade tensions after President Trump’s postponement of EU tariffs, investor unease remains in driving demand for the non-yielding yellow metal. Market players now closely monitor the Fed’s policy stance and forthcoming US economic releases such as Q1 GDP and the PCE Price Index for further guidance. Technically, gold has potential for both near-term pullbacks and continuation higher, with support around $3,245 and resistance near $3,345. KEY LOOKOUTS •  Market players look to the FOMC Minutes for insight into the Federal Reserve’s position regarding forthcoming interest rate reductions, which would directly impact gold prices and USD strength. •   Future important data, such as the Preliminary Q1 GDP and the PCE Price Index, will offer more insight into inflation dynamics and the health of the economy, and could influence Fed policy expectations. •  Russia-Ukraine conflict, Middle East conflicts, and increasing worries regarding the fiscal deficit of the US support continued safe-haven demand for gold. • Look for important support at $3,245 and resistance at around $3,345. A breakout above resistance could initiate a rally to $3,400 and higher, while a fall below support might induce a bearish excursion. Gold traders are eagerly observing some important events that may determine the metal’s short-term trend. The FOMC Minutes release continues to be a top priority, with the markets wanting confirmation of the interest rate path of the Federal Reserve as expectations for two cuts in 2025 build. Furthermore, the forthcoming US economic data, with the Preliminary Q1 GDP and PCE Price Index taking center stage, will provide key insights into inflation and growth that will dictate both Fed policy and investor moods. At the same time, ongoing geopolitical tensions, such as Russia’s moves in Ukraine and turmoil in the Middle East, as well as fears over the US fiscal deficit, continue to support gold’s status as an asset class of last resort. On a technical basis, levels to monitor are support around $3,245 and resistance at $3,345, with a break in either direction set to initiate the next major move. Gold continues to be underpinned above $3,300 as investors look to the FOMC Minutes for transparency on the Fed’s rate-cut trajectory. Safe-haven demand is being fueled by geopolitical tensions and US fiscal concerns, with further volatility potentially being added by forthcoming GDP and inflation releases. • Gold remains firm above $3,300 as investors look for cover amidst geopolitical tensions and US fiscal worries. • FOMC Minutes are closely watched for guidance on the Federal Reserve’s interest rate trajectory. • Market mood is still guarded in spite of President Trump’s postponement of envisaged EU tariffs. • Imminent US economic releases, such as Q1 GDP and PCE Price Index, may drive gold’s direction. • Gold finds support from safe-haven demand amid global uncertainties and inflation. • US Dollar finds it hard to make headway, constrained by budgetary concerns and rate-cutting expectations. • Technical perspective indicates consolidation with scope for both continuation higher and short-term pullbacks. Gold prices remain stable above the $3,300 level, supported by renewed investor hesitancy in the face of geopolitical tensions and US fiscal concerns. Although some easing of trade tensions with President Trump’s postponement of planned EU tariffs, sentiment in the market remains precarious. Concerns regarding the general economic outlook, combined with renewed global conflict and mounting budget deficit anxieties, have maintained demand for the safe-haven metal at high levels. XAU/USD DAILY PRICE CHART CHART SOURCE: TradingView Investors are now waiting for the FOMC Minutes release to gauge the direction of Federal Reserve monetary policy. With interest rate cuts anticipated later in the year, gold is expected to continue in the limelight as a hedge against economic uncertainty. Upcoming US economic releases such as Q1 GDP and the PCE Price Index will also be closely monitored for the direction of inflationary trends and growth momentum that may dictate future policy actions. TECHNICAL ANALYSIS Gold is displaying signs of consolidation with an upward bias, as it maintains above important psychological support around $3,300. Though momentum indicators on the daily chart indicate loss of bullish momentum, they have failed to signify a bearish change, which could signal the emergence of fresh buying interest. Near-term resistance lies in the vicinity of the $3,340–$3,345 levels, which also corresponds to a recent trend-line breakdown. A continued advance above this level may spur fresh upside momentum, whereas inability to stay above $3,300 can leave the metal vulnerable to additional declines towards the $3,250–$3,245 resistance zone. FORECAST If gold is able to hold above the $3,300 level and clears the immediate overhead around $3,345, then it may unlock more gains. Rising safe-haven demand, dovish FOMC Minutes cues, or softer-than-anticipated US economic data can impart bullish momentum. Under this scenario, gold can rise to the $3,365 level and potentially extend towards the $3,400 level, provided market sentiment shifts risk-averse or the US Dollar continues to weaken. Alternatively, if gold is unable to stay above $3,300, it can attract more selling pressure. A more robust US currency, Fed hawkish remarks, or improved-than-anticipated economic indicators might deter the metal’s demand. Under these circumstances, prices might fall back to the $3,250–$3,245 area, which is a crucial support level. A firm breach below this region could trigger a more significant corrective period, possibly leaving gold vulnerable to additional sell-offs on the near-term horizon.

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Commodities Gold

Gold Spikes Over $3,350 as Trump Ramps Up EU Trade War and US Fiscal Risks Become Deeper

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  • May 24, 2025
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This week, gold prices spurted above $3,350, spurred by increased safe-haven demand following U.S. President Donald Trump’s move to ramp up trade war tensions with the European Union by threatening 50% tariffs on imports. Investor worries over fiscal stability in the U.S. added to the rally following the House’s passage of a $4 trillion debt-burdened budget. In spite of some relaxation of geopolitical tensions with developments on the Ukraine and Iran negotiations, risk aversion was still high, driving XAU/USD up by almost 5% on the week. A weakening US Dollar, declining Treasury yields, and dovish Fed commentary also helped drive the bullish trend in gold markets. KEY LOOKOUTS • As the Fed’s go-to inflation indicator, the report will have a large bearing on interest rate expectations and gold prices. A less-than-expected print could make the case for cutting rates even stronger, boosting gold. • Market participants will scrutinize the wording and tone for hints on the policy direction of the central bank and the course of rates into the growing fiscal and geopolitical uncertainties. • Important economic data that will provide insight into the condition of the U.S. economy; poor data could push gold as a safe-haven asset. • If XAU/USD breaks above the $3,400 level of resistance, a test of the record high around $3,500 may come next, fueled by robust bullish momentum and a weak risk environment. Gold traders will in the coming days keep a keen eye on important U.S. economic indicators, such as the Core PCE Price Index, which might influence perceptions of future Federal Reserve policy action. The upcoming release of the Fed’s most recent meeting minutes might also indicate the central bank’s position amid increasing fiscal stability and inflation fears. Moreover, the Durable Goods Orders and the second GDP estimate will be under scrutiny as they provide additional insights into the U.S. economy’s strength. Technically, a clear break above the resistance of $3,400 can trigger a rally to the all-time high of $3,500, particularly with risk sentiment being weak. Gold dealers are looking ahead to future U.S. information, such as Core PCE inflation and revisions to GDP, for hints at Fed policy. A move above $3,400 has the potential to spark a push toward the all-time high of $3,500 while risk aversion continues and the dollar remains weak. •  Gold advanced above $3,350, up almost 5% for the week as geopolitical and economic uncertainty increased. • Trump ramped up trade tensions with threats of 50% tariffs on EU imports, fueling safe-haven demand. • U.S. House approved a $4 trillion debt-laden budget, fueling worries about fiscal stability and pushing gold higher. • The U.S. Dollar weakened, with DXY down more than 0.66%, serving as a tailwind for gold prices. • Treasury yields decreased, making gold a more attractive non-yielding asset. • Soft U.S. housing data and cautious comments from the Fed fueled investor jitters. • The major resistance is at $3,400, with a possible rise to $3,500 if positive momentum is sustained. Gold is attracting strong investor buying amid global uncertainties that are rising, especially after U.S. President Donald Trump aggressively escalated trade tensions with the European Union. His warning to place tariffs of 50% on EU imports revived fears of a wider trade conflict that is leading to a flight towards safe-haven assets such as gold. This action was combined with scathing criticism from U.S. authorities regarding the stalemate in negotiations with Europe, further weakening investor confidence. Furthermore, geopolitical events, such as continuous negotiations on Ukraine and Iran, have brought brief relief but have not considerably assuaged the risk-averse sentiment of markets. XAU/USD DAILY PRICE CHART CHART SOURCE: TradingView Meanwhile, local fiscal worries within the United States are exerting additional pressure. The House of Representatives just voted to pass a $4 trillion budget that notably raises the national debt ceiling, and this is raising eyebrows among investors regarding long-term economic stability. Such concerns are added to by declining confidence in U.S. assets and overall caution by the Federal Reserve, as noted by major policymakers. Despite these coinciding factors, gold remains a safe-haven store of value in an otherwise volatile world. TECHNICAL ANALYSIS Gold (XAU/USD) is in a very strong uptrend, with bullish momentum bolstered by a positive macro environment. Price has made steadily higher highs and higher lows, reflecting ongoing support from buyers. The Relative Strength Index (RSI) is increasing but remains below overbought territory, implying potential for additional upside. Pivotal resistance levels to observe are the psychological $3,400 level, followed by May 7 high of $3,438, and the all-time high of $3,500. On the downside, near-term support is at $3,300, with stronger support at $3,204 and the 50-day Simple Moving Average (SMA) around $3,199. FORECAST Gold prices will continue to get supported in the near term because of ongoing macroeconomic and geopolitical tensions. If the U.S. Dollar weakens further and Federal Reserve sends a dovish signal in the face of weakening inflation data or weakening economic trends, then gold may continue its rally. A move above the $3,400 level could set the stage for the way to the May high of $3,438, with the possibility to challenge the all-time high of $3,500. Sustained safe-haven appetite, particularly in the wake of trade tensions and fiscal worries, may maintain bullish strength. To the downside, any indications of de-escalating tensions between the U.S. and EU or better-than-anticipated U.S. economic data may temper gold’s bull run. Should the Federal Reserve take on a more hawkish stance or when yields start climbing once more, gold may be pressured. A fall below the $3,300 support mark could prompt further falls toward the $3,204 region, then the 50-day SMA around $3,199. Increased demand for risk assets and a recovery in the U.S. Dollar would also prevent gold from moving higher in the near term.

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Commodities Gold

Gold Price Falls on Trade Optimism and Lower Fed Rate Cut Expectation

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  • May 15, 2025
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Gold prices keep on falling as a relaxation of US-China trade tensions and shrinking hopes of aggressive Federal Reserve rate cuts cut down the demand for the safe-haven asset. The temporary agreement on trade and evidence of economic resilience in the US has lifted Treasury yields, further pressuring non-yielding gold. In spite of recurring geopolitical tensions and a weaker sentiment in equity markets, XAU/USD touched its lowest mark since early April, breaching important technical levels of support. Investors now eye the forthcoming US Producer Price Index data and Federal Reserve Chair Jerome Powell’s speeches for new cues, as gold’s outlook stays firmly bearish. KEY LOOKOUTS • Due for release later today, the PPI will provide clues on inflation trends and impact the Fed’s monetary policy direction going forward, affecting gold prices. • Traders will be attentive to Powell’s remarks for hints on the rate cut path, which may influence market sentiment and determine USD and gold price direction. • Increasing yields are still putting pressure on non-yielding assets such as gold. A sustained rally might help amplify bearish momentum in XAU/USD. • Escalating tensions in the Middle East and actions in the Ukraine-Russia conflict might provide minimal support to gold, but so far, these have not been adequate to turn around the current selling sentiment. Market participants must closely monitor a few important factors driving gold prices in the short term. The release of upcoming US Producer Price Index (PPI) numbers and a speech by Federal Reserve Chairman Jerome Powell are slated to provide fresh views on inflation and monetary policy that could markedly shift market mood. Moreover, a continued up move in US Treasury yields has kept non-yielding assets such as gold firmly in the dovish camp. Although geopolitical threats, such as tensions in the Middle East and the Ukraine-Russia conflict, continue to exist, they have not so far been contributing positively to gold prices amidst prevailing macroeconomic forces. Gold prices are still under pressure as declining US-China trade tensions and lowered Fed rate cut hopes push investors out of safe-haven assets. Upcoming US PPI and speech by the Fed Chair Powell are major events that could dictate the next direction in XAU/USD. Higher bond yields and technical breakdowns also add to the bearish scenario. • Gold prices fell to $3,135, the lowest since April 10, under persistent selling pressure. • US-China trade optimism cut safe-haven demand, as a 90-day tariff ceasefire put recessionary fears aside. • Fed rate cut expectations have fallen, and markets are now pricing in just about 50 basis points of easing this year. • Increasing US Treasury yields continue to pressure gold, which does not pay any yield and loses attractiveness in a rising rate environment. • Middle East and Ukrainian geopolitical tensions remain but have not managed to trigger a significant gold price rebound. • Technical levels of importance were broken, such as the $3,200 level and the 61.8% Fibonacci retracement, indicating further potential downside. • Market attention turns to US PPI numbers and Fed Chair Powell’s speech, which may be the next directional driver for XAU/USD. Gold prices are under persistent pressure as overall market sentiment moves out of safe-haven assets. The recent de-escalation of US-China trade tensions has gone a long way in damping investor worries of a global slowdown. A temporary tariff truce for 90 days and encouraging signs from both governments have helped instill confidence again, leading to a shift towards risk assets and away from gold. Meanwhile, more robust-than-anticipated US economic data have prompted traders to temper expectations of aggressive Federal Reserve interest rate cuts, diminishing gold’s attractiveness in the present climate. XAU/USD DAILY PRICE CHART CHART SOURCE: TradingView Apart from the better trade prospects, words from a number of Federal Reserve officials indicate a conservative, wait-and-see stance on future rate actions. They recognized advancements in moving inflation towards the 2% level and stressed more data before adjusting policy further. Although geopolitical tensions — such as those in the Middle East and Eastern Europe — are still in focus, they have had modest effects on investors’ behavior recently. All attention is therefore focused on future US economic data and Federal Reserve commentary, which might influence the prospects for both monetary policy and demand for gold in the coming weeks. TECHNICAL ANALYSIS Gold has fallen below important support levels and this signifies a prolongation of the downtrend. The decline below the $3,200 level and the 61.8% Fibonacci retracement of April’s upswing signifies that selling pressure is building. Daily chart oscillators are also becoming negative, supporting the likelihood of continued downside. Intraday support is at the $3,135–$3,133 range, and a clean break below this level would allow access to the $3,100 target and beyond towards $3,060. Upwardly, any rebounding attempts will continue to meet resistance around $3,170, stronger around $3,200 and $3,230, which should limit gains unless sentiment shifts. FORECAST If gold can recapture momentum, a rally may first aim at the $3,170 resistance level, then a possible retest of the $3,200 level. A breakout above this level may set the stage for a further bounce towards $3,230, which is situated at the 50% Fibonacci retracement level. A close above this level may spark renewed buying interest, driving gold towards $3,265 and potentially the $3,300 psychological level. But any positive is likely to be received with suspicion unless dovish Federal Reserve rhetoric is firmly in place or global risk aversion sharply worsens. To the downside, further selling pressure may push gold beneath near-term support at $3,135–$3,133. A firm break here would most probably hasten the fall toward the $3,100 level. If bearish momentum continues, the next significant support is at $3,060, a threshold that may prove to be a firmer bottom unless wider economic or geopolitical factors bring renewed stress. With the existing bearish technical configuration and macroeconomic headwinds in place, risk remains skewed to the downside absent some catalyst over the near term in the form of data or Fed commentary shifting market expectations.

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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 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 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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