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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 Clings Above $3,000 Despite Pullback, Poised for Weekly Gain as Strong US Dollar and Geopolitical Tensions Sustain Prices

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  • March 22, 2025
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Gold prices fell for the second day in a row on Friday, dropping to about $3,019 as investors took profits and the US Dollar gained strength. Gold is still poised for weekly gains, however, driven by escalating geopolitical tensions and uncertainty in the market. The strong position of Federal Reserve officials, with no hurry to lower interest rates in the face of economic uncertainty and the effect of President Trump’s trade policy, has also added strength to the Greenback. Rising tensions in Gaza have meanwhile contributed to market anxiety, sustaining gold’s safe-haven appeal despite momentum indicators pointing towards a possible short-term correction. KEY LOOKOUTS • Short-term pullbacks notwithstanding, gold’s resilience in remaining above the psychological $3,000 level reflects underlying bullishness and further potential for the price to go higher if investors buy back. • The strengthening US Dollar and the dovish stance of Fed officials, who don’t see an immediate need to reduce interest rates, still depress gold prices short term. • Gaza violence and increasing geopolitical tensions may provide support to gold as a safe-haven asset, keeping investors in suspense. • The nearest support is at $3,020, then the key $3,000 and $2,954 levels. On the upside, a move above $3,050 may lead the way to the $3,100 Gold traders are keenly observing key factors that may determine price action in the next few days. In spite of recent profit-taking and the strength of the US Dollar, gold’s resilience to remain above the pivotal $3,000 level indicates sustained investor appetite. The Federal Reserve’s conservative approach to interest rate reductions and increasing US Treasury yields are pinning down bullion, but geopolitical tensions—most notably the renewed hostilities in Gaza—are sustaining gold’s safe-haven demand. Market participants will also be watching key technical levels, support around $3,020 and resistance at $3,050, which might dictate the direction of XAU/USD in the next session. Gold continues to hold up above the $3,000 level despite temporary profit-taking and a firmer US Dollar. Geopolitical tensions and the Fed’s hawkish tone remain at play and continue to affect market sentiment, with investors ready to watch out for key technical breakouts. • Gold prices fall for the second day in a row but stay above the $3,000 mark. • Gold is poised to record weekly gains despite the retreat, driven by market uncertainty. • US Dollar gains as investors react to Fed’s conservative approach to rate cuts. • Fed officials signal no hurry to loosen policy, citing economic uncertainty and Trump’s tariffs. • Geopolitical tensions increase as Israel renews attacks in Gaza, fueling safe-haven demand. • Technical perspective indicates short-term support at $3,020 and major resistance at $3,050. • Momentum indicators indicate a possible short-term pullback, but long-term trend is bullish. Gold prices have remained resilient this week, holding firm despite a temporary dip towards the close of the trading sessions. The market still struggles with a stronger US Dollar, fueled by cautious indications from Federal Reserve officials who have reaffirmed their policy of keeping interest rates unchanged in the face of economic uncertainties. With no imminent intention to loosen monetary policy, investors are closely watching how trade policies, particularly the effects of newly imposed tariffs, will influence the overall economic outlook in the next few months. XAU/USD Daily Price Chart Chart Source: TradingView Grappling with market tensions are mounting geopolitical threats, especially in the Middle East. The recent restart of hostilities in Gaza after a two-month ceasefire has ratcheted up global uncertainty. Such events usually heighten demand for safe-haven assets such as gold since investors want insulation from possible worldwide instability. Despite short-term threats, long-term economic and geopolitical issues continue to underpin the role of gold in diversified investment portfolios. TECHNICAL ANALYSIS Gold still shows a widely bullish trend in spite of recent declines. The metal has managed to hold above the important psychological level of $3,000, reflecting strong underlying support. Momentum indicators such as the Relative Strength Index (RSI) do, however, indicate a short-term loss of bullish momentum, with the index having fallen for the second day in a row. If selling pressure intensifies, gold may test lower support zones at $3,020 and major resistance at $3,050 , while a rebound above recent resistance could reignite upward momentum. Traders are closely watching these key levels to determine the next directional move. FORECAST Gold prices could see a fresh rally in the coming sessions. A sustained move above recent resistance levels may open the path toward higher targets, potentially revisiting the $3,050 zone and beyond. Sustained geopolitical tensions, uncertainty over global trade policies, and any economic softening would further enhance the safe-haven appeal of gold. And on the Federal Reserve front, any change in tone to a dovish position could be the trigger for fresh bullion buying interest. Conversely, if profit-taking persists and the US Dollar stays firm, gold could experience more downside pressure. A breakdown below the $3,000 psychological level would instigate a more serious correction, sending prices down to the next support levels. Increasing US Treasury yields and ongoing hawkish messages by Fed officials could also hamper sentiment, inducing transitory losses in gold’s positive trend. Unless key support levels are broken decisively, however, the overall outlook should still remain positive in the medium term.

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Commodities Gold

Gold Retreats On Quadruple Witching: Rally Halts Near $3,030 but Bullish Traction Remains Unscathed

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  • March 21, 2025
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Gold prices backed off on Friday, falling from their all-time highs during the turmoil of Quadruple Witching — a market phenomenon that involves the concurrent expiry of different futures and options contracts. Having earlier reached a new all-time high of $3,057, gold fell back to a level of about $3,030 in the European session, as investors practiced profit-taking. Even after the pullback, the yellow metal is still well-supported above the crucial $3,000 level, and geopolitical tensions as well as uncertainty in the global economy continue to support its allure. Analysts are still hopeful, with expectations that gold can rally further to the $3,500 level in the months ahead. KEY LOOKOUTS        • Gold is still firmly supported above the psychological $3,000 level despite the recent fall, which keeps the bull run alive. • Near-term resistance is at $3,042, followed by the new all-time high of $3,057. A breakout higher would set the stage for $3,074 and higher. • Ongoing violence in Gaza and Ukraine, and pending U.S. tariff releases, can continue to fuel safe-haven demand for gold. • Expiration of several futures and options contracts can produce near-term volatility, but also present strategic buying opportunities for investors. Gold’s recent fall to about $3,030 is in the midst of increased market volatility fueled by Quadruple Witching, providing a chance for profit-taking among traders. The overall outlook, however, remains positive as the precious metal continues to trade above the important $3,000 support level. Important resistance levels at $3,042 and the recent all-time high of $3,057 will be closely monitored, with additional upside potential towards $3,074 if the momentum picks up. At the same time, geopolitical tensions and imminent trade tariffs remain supporting gold’s safe-haven demand, maintaining investor appetite strong and a possible rally to $3,500 in the cards. Gold remains firm above the critical $3,000 mark even as it fell back after Quadruple Witching profit-taking. Geopolitical tensions and fears of a trade war keep bullish momentum intact, with the $3,500 target within reach. • Gold experiences a small pullback after setting a new all-time high, largely because of Quadruple Witching profit-taking. • The precious metal continues to be well-supported above the psychological $3,000 mark, reflecting sustained bullishness. • Middle Eastern and Ukrainian geopolitical tensions continue to fuel safe-haven demand for gold. • Trade war worries and future U.S. tariffs are other drivers of investor interest in gold. • Gold has produced solid gains in 2025, including 15 record highs so far this year and a 16% gain. • Institutional funds and pension plans are increasingly relying on gold as a safe bet. • Forecasts see additional gains, with some predicting that gold may rise to $3,500 amidst continuing global uncertainty. Gold remains a favored safe-haven asset, propelled by persistent geopolitical tensions and economic uncertainty worldwide. Investors are looking more and more to the precious metal in light of Middle East and Ukrainian conflicts, as well as fears of possible trade interruptions. The quest for stability during uncertain times has driven a robust rally this year, underscoring gold’s position as a safe store of value. XAU/USD Daily Price Chart Chart Source: TradingView To add to its popularity, institutional buying is also increasing interest in gold. Pension funds and big investment institutions have reported solid returns from their commodity exposure, including gold. For example, the Ontario Teachers’ Pension Plan recently recorded hefty gains, thanks in part to its commodity investments in gold. With analysts predicting even more elevated price targets, gold remains a magnet for individual and institutional investors looking for long-term safety. TECHNICAL ANALYSIS Gold’s recent action displays a healthy period of consolidation following its robust run-up. Despite the prices trimming some of the gains, overall structure remains positive with support holding strong and registering ongoing buying pressure. The market is experiencing customary profit-taking as the market normally experiences during periods like Quadruple Witching but significant resistance points are still reachable. As long as gold remains in a position above critical levels of support, the upward trend is going to keep on going, and the trader will have opportunities to get in on dips and participate in the general trend. FORECAST Gold will continue on its bullish path in the medium to long term due to ongoing geopolitical tensions, economic uncertainty, and growing institutional investor demand. With the analysts setting targets as high as $3,500, the metal continues to draw safe-haven flows. If global tensions escalate or economic worries deepen, gold may witness fresh buying traction, driving prices above recent all-time highs. Central bank buying and inflation pressures could also serve as added tailwinds to the metal’s rally. While there is a robust overall prognosis, gold is not exempt from downside risks. Short-term adjustments could happen as a result of profit-taking, volatility in the markets, or change in investor mood during significant financial events such as Quadruple Witching. An appreciating U.S. dollar, increasing bond yields, or relaxation in geopolitical tensions could short-term pressure prices. If gold falls below important support levels, it can induce a more serious correction, inducing caution among market participants. But such pullbacks will be considered as buying opportunities unless there is a significant change in broader market fundamentals.

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Commodities Gold

Gold Reaches Record High at $3,045 Before Fed Decision as Geopolitical Tensions Rise and the Market Remains Uncertain

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  • March 19, 2025
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Gold reached a new record high of $3,045 on Wednesday amid rising geopolitical tensions and market uncertainty in anticipation of the U.S. Federal Reserve’s interest rate decision. The rally was driven by disconcerting reports from Turkey and Ukraine, and fears of possible economic slowdown in the U.S. even with a temporary ceasefire deal between President Trump and President Putin. While gold’s momentum is still robust, analysts are cautioning of a potential pullback, particularly if the Fed indicates fewer rate cuts than anticipated. While markets wait with bated breath for Jerome Powell’s remarks and economic forecasts, gold traders are eagerly waiting for signals that would determine the next major move in the precious metal. KEY LOOKOUTS • The Fed’s interest rate decision and economic forecasts, which may influence the direction of gold in the subsequent sessions. • Political instability in Turkey and uncertainty in Ukraine are still backing gold prices as safe-haven demand continues to stay high. • Keep an eye on critical resistance levels of $3,048 and $3,063; a break above might spark a new wave of gold bullishness. • Gold’s strong rally could get a near-term correction if the Fed gives cues of less rate cuts or turns hawkish. Gold’s stellar rally to an all-time high of $3,045 is a reflection of increasing geopolitical tensions and increased investor wariness in anticipation of the U.S. Federal Reserve policy announcement. The metal’s safe-haven demand has been supported by political turmoil in Turkey and continued uncertainty in Ukraine, as market players look to the Fed’s interest rate outlook and economic forecasts for 2025 and beyond. A hawkish Fed or less-than-anticipated rate cut signals may provoke a short-term retreat in gold prices. Yet, technical resistance levels at $3,048 and $3,063 are still crucial to monitor, as a break above these levels would ignite more upside momentum. Gold reached a record high of $3,045 in the wake of increasing geopolitical tensions and before the key Fed interest rate decision. Investors now wait for cues on subsequent rate cuts, while technical resistance at $3,048 would decide the direction of gold prices next. • Gold rose to a record high of $3,045 on Wednesday, fueled by geopolitical tensions and market expectation. • Political instability in Turkey and ongoing uncertainty in Ukraine have bolstered safe-haven demand for gold. • Investors are keenly awaiting the Federal Reserve’s interest rate decision and economic forecasts for future policy guidance. • Any hawkish rhetoric from the Fed or lower rate cut expectations could lead to a short-term gold correction. • Technical resistance points at $3,048 and $3,063 may define further upside potential in gold prices. • Levels of support to monitor are $3,024, $3,010, and the psychological $3,000 level. • Gold’s rally may be overbought despite bullish sentiment, with traders wary of a potential pullback. Gold hit a new record high of $3,045 as investors grew increasingly nervous over increasing geopolitical tensions and global economic uncertainty. Prices rose as markets responded to important political events, such as the arrest of Istanbul’s mayor, a prominent opposition leader in Turkey, and persistent turmoil in Ukraine. These occurrences have bolstered gold’s reputation as a historical safe-haven asset, as investors turn to it for security in uncertain global headlines. XAU/USD Daily Price Chart Chart Source: TradingView To the uncertainty, attention now turns to the U.S. Federal Reserve, which will make its most recent interest rate decision and release new economic forecasts. While the market generally expects no change, expectations for future rate reductions have the potential to impact overall market sentiment. With a backdrop of nervous optimism and geopolitical tension, gold remains a focus as a hedge against prospective financial volatility and policy changes. TECHNICAL ANALYSIS Gold’s recent surge to an all-time high of $3,045 reflects robust bullish momentum in the market. The short-term attention now turns to critical resistance levels near $3,048 and $3,063, which may serve as prospective breakout areas in case of further pressure on the upside. On the downside, levels near $3,024, $3,010, and the psychological level of $3,000 are crucial checkpoints in the event of a pullback. While the trend remains positive, traders should stay cautious, as overbought conditions could lead to short-term corrections before the next leg higher. FORECAST Gold’s latest rally implies there is scope for further price rises in the immediate term, provided geopolitical tensions prevail or the Federal Reserve introduces dovish policy measures. A repeated breach above $3,045 could lead to the opening up of higher levels of resistance levels, and it is investor psyche that could bring prices towards the $3,063 levels or higher. Fresh fears over international economic stability as well as the demand for haven assets may yet continue to power bullish sentiment across the gold complex. Even with the aggressive rally, there is still potential for a short-term correction as gold begins to appear somewhat overbought. If the Federal Reserve leans more toward being hawkish or indicates fewer rate reductions than expected, it has the potential to place downward pressure on prices. In that case, gold could fall back towards important support levels at $3,024 or even flirt with the psychological $3,000 threshold. A more pronounced correction can then follow if sentiment in the larger markets turns away from risk aversion.

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Commodities Gold

Gold Holds Steady Near Record Highs Amid Trade Tensions and Fed Rate Cut Bets

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  • March 17, 2025
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Gold price (XAU/USD) continues to consolidate near its all-time highs, supported by rising trade tensions, geopolitical risks, and growing expectations of multiple interest rate cuts by the Federal Reserve in 2025. Despite a subdued start to the week, the precious metal remains well bid due to safe-haven demand, while a weaker US Dollar further underpins the bullish outlook. Although China’s recent economic stimulus has improved global risk sentiment and capped immediate gains, the overall trend remains in favor of the bulls. Market participants now await the upcoming FOMC decision for fresh direction, with the broader setup suggesting potential for further upside momentum. KEY LOOKOUTS • All eyes are on the Federal Reserve’s policy meeting, which is expected to provide clarity on interest rate cuts and drive the next major move in XAU/USD • Ongoing conflicts in the Middle East and rising trade war fears continue to fuel safe-haven demand for gold, keeping it near record highs. • A weaker US Dollar, hovering near multi-month lows, remains a supportive factor for gold prices. Any shift in USD sentiment could influence gold’s direction. • Key support lies near $2,956 and $2,930–2,928 zones, while a sustained move above $3,000 could open doors for the next bullish leg in gold’s uptrend. As gold prices hover near record highs, market participants are closely watching several key factors that could influence the next move in XAU/USD. The upcoming Federal Reserve policy decision remains a critical event, with expectations of multiple rate cuts in 2025 supporting the bullish outlook for the non-yielding metal. At the same time, heightened geopolitical tensions and concerns over trade conflicts continue to boost safe-haven demand. Additionally, the US Dollar’s weakness near multi-month lows lends further support to gold prices. On the technical front, crucial support zones around $2,956 and $2,930–2,928 are in focus, while a clear break above the psychological $3,000 level could trigger a fresh bullish rally. Gold price remains well-supported near record highs amid Fed rate cut expectations, trade tensions, and geopolitical risks. A weaker US Dollar adds to the bullish momentum, while key technical levels around $2,956 and $2,930–2,928 remain crucial for near-term direction. All eyes now turn to the upcoming FOMC decision for fresh cues. • Gold consolidates near all-time highs, staying just below the $3,000 psychological mark. • Safe-haven demand rises amid escalating trade tensions and geopolitical uncertainties. • Fed rate cut expectations for 2025 continue to support the bullish outlook for XAU/USD. • US Dollar remains weak, hovering near multi-month lows, further boosting gold prices. • China’s economic stimulus lifts market sentiment, capping immediate gains in gold. • Technical support levels at $2,956 and $2,930–2,928 are key zones to watch for any pullback. • The upcoming FOMC meeting is the most awaited event, likely to provide fresh direction for gold. Gold continues to hold its ground near record highs, driven by growing global uncertainties and strong safe-haven demand. Rising trade tensions and geopolitical conflicts, including escalating situations in the Middle East and concerns over global economic stability, have reinforced gold’s appeal as a reliable store of value. Additionally, the market sentiment is being shaped by expectations that the Federal Reserve will begin cutting interest rates multiple times in 2025, as signs of economic slowdown and softer inflation data emerge in the U.S. XAU/USD Daily Price Chart Chart Source: TradingView Adding to the supportive environment for gold, the U.S. Dollar remains under pressure amid these rate cut expectations, making the precious metal more attractive for investors holding other currencies. Meanwhile, China’s recent economic stimulus efforts, including initiatives to boost domestic consumption and support the housing sector, have helped improve market confidence globally. However, gold continues to benefit from its traditional role as a safe haven amid global instability, keeping it in focus for investors seeking long-term security. TECHNICAL ANALYSIS Gold remains in a strong bullish trend, having recently broken above key resistance levels and now consolidating near its all-time highs. The overall market structure suggests continued upward momentum, supported by strong buying interest on any dips. While the Relative Strength Index (RSI) indicates overbought conditions, signaling a possibility of short-term consolidation, the broader chart pattern still favors the bulls. Key support zones around $2,956 and $2,930–2,928 could act as potential entry points for buyers, while a sustained move above the $3,000 psychological mark may open the door for further upside in the coming sessions. FORECAST Gold prices are likely to remain on an upward trajectory if current macroeconomic and geopolitical conditions persist. Expectations of multiple interest rate cuts by the Federal Reserve in 2025, combined with ongoing trade tensions and global uncertainties, could continue to fuel safe-haven demand. A sustained weak US Dollar would further support this bullish outlook, potentially pushing gold beyond the $3,000 psychological mark. If risk sentiment weakens and investors seek safety, gold could attract more inflows, paving the way for new record highs in the coming months. On the flip side, any signs of easing geopolitical tensions or a shift in the Federal Reserve’s tone toward a more hawkish stance could limit gold’s gains or even trigger a pullback. Additionally, stronger-than-expected US economic data or a rebound in the US Dollar may reduce the appeal of the non-yielding metal. If global markets regain stability and risk appetite improves, investors might shift focus away from safe-haven assets like gold, leading to a moderate decline in prices from current elevated levels.

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Commodities Gold

Gold Price Pulls Back from All-Time Highs: Influence of USD Strength, Trade War Fears, and Fed Policy

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  • February 21, 2025
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Gold prices (XAU/USD) have pulled back from their all-time highs as a modest rebound in USD demand, driven by the Federal Reserve’s conservative approach to rate cuts and profit-taking among traders, took hold. Even so, downside action is contained as fears of a global trade war, ignited by former U.S. President Donald Trump’s plans for tariffs, continue to underpin safe-haven demand for gold. Also, inflation concerns and geopolitical tensions, notably the Russia-Ukraine conflict, further support bullion’s allure. Although the technical configuration implies a short-term consolidation, the overall trend is bullish, with traders keeping close tabs on important support levels and future economic releases for additional market guidance. KEY LOOKOUTS • U.S. Dollar strength and the Federal Reserve’s reluctance to cut interest rates could be controlling short-term gold price action. • The announced tariffs by Trump and the resulting risk of a global trade war could fuel inflationary concerns and drive the safe-haven demand for gold. • Rising tensions between Russia and Ukraine, particularly Ukrainian drone strikes against Russian oil facilities, could further enhance the appeal of gold as an insurance against uncertainty. • Support levels of $2,900 and $2,880 could be good buying levels, while a breakout above $2,955 would indicate additional upside strength. Gold prices still oscillate on the back of a multi-pronged confluence of forces, including the strength of USD, fears over trade war, and tensions over geopolitics. Although a partial recovery in the U.S. The cautious stance of the Federal Reserve and Dollar toward reducing rates has set off some profit-taking, yet the downside is contained owing to continued fears over inflation and world trade volatility. Trump’s policies on tariffs and new geopolitical concerns, like the Russia-Ukraine war, continue to bolster gold’s safe-haven appeal. Technically, the major support in the range of $2,900-$2,880 is likely to lure buyers, and a breakout above $2,955 is likely to propel further upside momentum, maintaining the overall bullish trend intact. Gold prices pull back slightly from all-time highs on USD recovery and profit-taking, but trade war anxiety and geopolitical tensions remain supportive of bullish momentum. Major technical levels in the range of $2,900-$2,880 are likely to serve as buying zones, and a breakout above $2,955 is likely to trigger further gains. • XAU/USD pulls back from all-time highs as profit-taking and a soft rebound in USD demand. • The Federal Reserve’s conservative attitude towards rate reductions and USD strength cap further advances in gold prices. • Trump’s tariff announcements drive inflation worries and boost gold’s safe-haven demand. • Russia-Ukraine tensions and rising global uncertainties continue to bolster bullion as a hedge. • Inflation expectations keep gold in favor in spite of price volatility in the short term. • Primary support levels between $2,900-$2,880 would be where purchasing interest could find buyers, or a break through $2,955 could induce further increases. • U.S. PMI figures, sales of homes, and consumer sentiment index can contribute to gold’s short-term course. Gold remains a safe-haven favorite against increasing worries on global economic tensions and geopolitical fears. The recently announced trade plans by previous U.S. President Donald Trump, such as further tariffs on Chinese imports and higher duties on steel and aluminum, have triggered concerns of a possible global trade war. These actions can fuel inflationary pressures, which will make gold an attractive hedge against inflation. Moreover, economic worries due to a weaker consumer sentiment, evidenced by Walmart’s lower-than-expected sales projection, further increase the demand for gold as investors want stability.  XAU/USD Daily Price Chart TradingView Prepared by ELLYANA Geopolitical risks remain also a main driver of gold’s safe-haven demand. The Russia-Ukraine conflict, specifically Ukrainian drone strikes on Russian oil infrastructure, contributes to market uncertainty and further boosts the appeal of gold as a risk-free asset. At the same time, conflicting signals from Federal Reserve officials about inflation and possible rate cuts lead to uncertainty in financial markets, causing investors to diversify into gold. As global economic and political uncertainties continue, gold continues to be a reliable store of value during volatile times. TECHNICAL ANALYSIS Gold is still in a robust uptrend even as it pulls back temporarily from record highs. The recent spillover over the $2,928-$2,930 resistance levels indicates further bullish pressure, and $2,955 will be the next critical barrier on the upside. On the flip side, protection is visible at $2,900, followed by $2,880, which may act as buying areas for buyers interested in entering longs. The Relative Strength Index (RSI) is still near the overbought zone, suggesting short-term consolidation prior to the next leg up. A convincing breakout above $2,955 may pave the way for higher gains, but a breakdown below $2,880 may confirm a more pronounced correction. FORECAST Gold’s medium- and long-term uptrend remains firm, although short-term corrections are inevitable given different economic and geopolitical considerations. On the bullish side, if gold continues its strength above the $2,928-$2,930 resistance levels, a breakout above $2,955 may propel prices upwards. Robust safe-haven demand, fueled by geopolitical tensions and inflation fears, may propel a rally to the $3,000 level. Moreover, any dovish Federal Reserve policy or soft U.S. economic data may also support gold’s rise, drawing new buyers into the market. On the bearish side, profit-taking and a modest rebound in the U.S. Dollar may cause a short-term pullback. Key support levels of $2,900 and $2,880 will be important in ascertaining the extent of any correction. A breakdown below these levels could see a further fall to $2,860 or even $2,834. Yet, with the underlying macroeconomic uncertainties, any deep fall is expected to be supported by buying interest, capping the downside risk and preserving gold’s overall bullish outlook.

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Commodities Gold

Gold Prices Rise Despite Market Uncertainty: Investors Look to Fed Rate Reductions and Central Bank Buying

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  • February 15, 2025
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Gold prices are poised to post a weekly gain of more than 0.80%, following a Friday dip, as investors absorb soft US Retail Sales data and declining Treasury yields. The US Dollar declined, boosting bullion’s appeal, while markets factored in more than a single Federal Reserve rate reduction, further bolstering gold’s longer-term prospects. Central bank buying continues to be robust, with more than 1,000 tons purchased for the third year in a row, supporting gold’s bullishness. Technically, XAU/USD is still in an uptrend, with support at $2,850 and resistance around its all-time high of $2,942. Traders continue to watch FOMC minutes and upcoming economic releases for additional price guidance. KEY LOOKOUTS • Multiple Fed rate cuts are being priced in by investors, enhancing gold’s attractiveness as the lowering of interest rates lessens the opportunity cost of holding bullion. • A weakening US Dollar, caused by disappointing retail sales, is making gold look more attractive as a safe-haven asset with economic uncertainty. • Central banks worldwide continue heavy gold purchases at more than 1,000 tons for the third year running, strengthening long-term bullish trend. • Gold has crucial resistance at $2,942, with the potential breakout point at $3,000, and support at $2,850 and $2,790 in the event of pullbacks. Gold continues to be poised for significant gains as several factors underpin its bullish trend. Disappointingly low US Retail Sales have stoked a dip in the US Dollar, bolstering gold’s safe-haven status. Investors are increasingly pricing in Federal Reserve rate cuts, lowering Treasury yields and making non-yielding assets such as gold more appealing. Moreover, central bank buying is still going through the roof, with more than 1,000 tons of gold purchased for the third year in a row, bolstering demand. Technically, although gold encounters resistance at its all-time high of $2,942, a breakout has the potential to drive prices to the $3,000 level, while support levels are critical at $2,850 and $2,790. Gold will close the week with strong gains in spite of Friday’s decline, propelled by softer US Retail Sales, weakening US Dollar, and rising Fed rate cut probabilities. Central bank buying keeps surging, supporting long-term fundamentals. Strong resistance at $2,942, with a possible breakout to $3,000. • Gold will close the week 0.80% higher in spite of a Friday pullback, demonstrating exceptional bullish sentiment. • Weaker-than-projected US Retail Sales caused a weakening US Dollar, improving gold’s safe-haven demand. • Investors expect several Federal Reserve rate cuts, lowering Treasury yields and making gold even more appealing. • Global central banks bought more than 1,000 tons of gold for the third year in a row, consolidating long-term bullish pressure. • The Greenback reached yearly lows, supporting higher gold prices further. • Major resistance is at $2,942, with the possibility of moving towards $3,000 if the buyers are able to maintain momentum. • Gold’s nearest support is at $2,850, then key levels at $2,790 and $2,730 in the event of a retracement. Gold is set to end the week with robust gains of 0.80%, despite Friday’s pullback, as investors respond to softer US Retail Sales and declining Treasury yields. The US Dollar has depreciated strongly, touching all-time lows on a yearly basis, and has further improved gold’s position as a safe haven. Second, investors now have priced in several Federal Reserve rate cuts, resulting in bond yields falling and making non-yielding assets such as gold attractive. Central bank demand also continues to be a primary driving force, as more than 1,000 tons of gold bought for the third year running continues its long-term bullish impetus. XAU/USD Daily Price Chart TradingView Prepared by ELLYANA Gold is to close out the week on firm gains of 0.80%, even after Friday’s pullback, as softer US Retail Sales and a falling US Dollar enhance its safe-haven status. Investors are now factoring in several Federal Reserve rate cuts, causing Treasury yields to decline and further bolstering the long-term picture for gold. Central banks continued their aggressive gold buying, fueling the optimism. On the technical side, gold is supported at $2,942 with a possible breakout to $3,000, while critical supports are $2,850 and $2,790. Market players now wait for the FOMC minutes to see what else they might indicate regarding monetary policy direction. TECHNICAL ANALYSIS The technical outlook for gold is still bullish, even as the metal pulls back recently, trading currently close to $2,883 following a two-day low of $2,878. The uptrend continues intact provided buyers protect crucial support points starting at $2,850, then $2,790 and $2,730. The Relative Strength Index (RSI) has moved out of overbought levels, indicating a possible consolidation before the next move higher. If gold is able to break above the $2,900 level, the next important resistance is at the all-time high of $2,942, with an extension possible towards the psychological $3,000 level. Traders will watch price action and future economic releases closely for additional confirmation of trend direction. FORECAST Gold prices’ bullish run is still on as a number of underlying and technical drivers remain in favor of higher prices. If the purchasing interest can propel gold above the $2,900 mark, the next threshold to watch is the all-time high price of $2,942. A move above this may cause additional gains towards the psychological level of $3,000. With investors already factoring in several Federal Reserve rate reductions and central banks still making robust gold purchases, the longer-term picture is still positive. Moreover, persistent US Dollar weakness and lower Treasury yields add to the support, and gold is a good hedge against inflation and economic uncertainty. While the overall trend is positive, gold is subject to potential downside risks from profit-taking and important support levels being tested. If the metal dips below $2,850, more declines would send it to the October 31 cycle high support at $2,790, and then to the next important level at $2,730. The Relative Strength Index (RSI) has moved out of overbought levels, which means there could be a short-term correction. If US economic indicators surprise on the upside

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Commodities Gold

Gold prices surged past $2,900: Trump’s tariffs and global uncertainty fuel safe-haven demand

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  • February 11, 2025
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Gold price (XAU/USD) continues its bullish momentum, breaching the $2,900 mark to hit a fresh all-time high amidst growing safe-haven demand. The surge is driven by US President Donald Trump’s new tariffs on commodities, escalating global trade war concerns, and geopolitical tensions, particularly in the Middle East. Other positives include the prospect of increasing inflation with the pro-protectionist policies of President Trump, thus making gold more attractive as an economic uncertainty hedge. A weak US Dollar bounce and an overbought market have resulted in some intraday profit-taking before Fed Chair Jerome Powell’s congressional testimony. Even though the precious metal experienced some minor pullbacks, the bigger picture is bullish, and strong support is at key technical levels above $2,800, which supports additional upside. KEY LOOKOUTS • Global uncertainty rises with threats of US retaliation and reciprocal tariffs on commodities • Increasing skirmishes, in the Middle East for one, only heighten fears in markets that drive even greater demand for gold as an inflation hedge against volatility • Fed rate policy and future course under inflation concern and a surprising strong labor market. • Despite minor pullbacks, gold’s strong support above $2,800 and bullish trends suggest further upside potential in the coming sessions. Gold’s bullish momentum remains intact as it continues to trade above the $2,900 mark, driven by escalating trade war fears following Trump’s new tariffs and ongoing geopolitical tensions. Investors are turning to the safe-haven metal amid uncertainties surrounding global economic policies and Middle East conflicts. A stronger US Dollar and profit-taking have caused slight pullbacks, but gold’s strong technical support near $2,800 suggests limited downside risks. The market now awaits Fed Chair Jerome Powell’s testimony, which could provide further clarity on the Federal Reserve’s rate stance and influence gold’s next move. Gold price continues to hold strong above $2,900 on the back of Trump’s tariffs and geopolitical tensions, which increase safe-haven demand. Even minor pullbacks are capped by strong support near $2,800. Fed Chair Powell’s testimony may shape gold’s next move. • Gold price surges to a record high as safe-haven demand increases. • New US tariffs on commodities raise the specter of a global trade war, making gold more attractive. • Uncertainties, especially in the Middle East, push investors towards gold as a hedge. • Expectations of inflation because of Trump’s protectionist stance might influence the rate decisions of the Federal Reserve. • A modest recovery in the USD results in some profit-taking in the prices of gold. • Gold is well-supported above $2,800 and is limited in downside risks despite minor corrections. • Investors await Fed Chair Jerome Powell’s comments, which may affect the future course of gold. Gold’s price keeps on its bullish trend, going past the $2,900 mark and reaching a new all-time high as investors seek safety amid rising economic and geopolitical uncertainties. US President Donald Trump’s newly imposed tariffs on commodities, along with his plans for reciprocal duties on other countries, have fueled fears of a global trade war, significantly boosting demand for gold. Furthermore, increased political tensions, especially in the Middle East, have also contributed to gold’s safe-haven status. However, some intraday profit-taking occurred due to a minor US Dollar recovery. Yet, the bullish sentiment remains firm, with technical support levels around $2,800 capping the downside. XAU/USD Daily Chart TradingView Prepared by ELLYANA Looking ahead, market participants are watching the Federal Reserve’s policy stance very closely as Trump’s protectionist policies are likely to drive inflation higher, and this might have an impact on the Fed’s interest rate decisions. A hawkish stance from the central bank would strengthen the US Dollar and cap gold’s gains, while a dovish approach would further support the yellow metal’s rally. Investors are also waiting for Fed Chair Jerome Powell’s congressional testimony, which may give a clue about the Fed’s view on inflation and interest rates. While short-term fluctuations are possible, the broader technical setup suggests that gold is still on an uptrend, and strong demand is likely to keep prices elevated in the near term. TECHNICAL ANALYSIS Gold is still in a strong uptrend, comfortably above the $2,900 level, and with key support around the $2,800 level. Any pullback towards $2,886-$2,882 should attract fresh buying interest, which will reinforce the bullish outlook. A decisive break below this zone may push prices towards the $2,855-$2,852 region, but downside risks are limited because of strong demand. On the flip side, yesterday’s resistance came in near $2,943-$2,950; a next leg higher probably targets the $3,000 mark, but it is reflected in the daily chart – the overbought Relative Strength Index (RSI). The next leg higher might mean some consolidation or short-term correction. Traders will look forward to Fed Chair Jerome Powell’s testimony and the US Dollar’s movement for further directional cues. FORECAST The medium-term bullishness in gold will likely continue for the near term, with price action testing new higher resistance levels. If this buying pressure remains strong, then the next target to the upside would be in the $2,943-$2,950 area, with the psychological $3,000 barrier being a major obstacle before breaking above to start a new rally and take the long-term uptrend much further. Geopolitical tensions, inflation fears, and safe-haven demand will continue to fuel gold prices. The positive view on the yellow metal will continue. But, the price may see some pullbacks because of profit-taking and the US Dollar’s strengthening. If the price falls below $2,900, the initial support is seen around $2,886-$2,882, and the downside risks will extend toward the $2,855-$2,852 zone. Another more aggressive push in correction would push prices closer to the $2,834 level, but that level is expected to attract buyers, thus limiting further declines. Market sentiment will be highly driven by the monetary stance of the Federal Reserve and Jerome Powell’s testimony as any hints of a prolonged rise in higher interest rates would force short-term downward pressure on gold.

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Commodities Gold

Gold Prices Soar to New All-Time Highs as Trade War Jitters, Inflation Loom

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  • February 10, 2025
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Prices of gold (XAU/USD) have maintained their bull run and even reached new all-time highs near the $2,896-$2,897 level as haven demand increases amidst heightened trade war jitters and inflationary pressure. US President Donald Trump declared new 25% tariffs on steel and aluminum imports, in addition to threatened retaliatory measures, which raised uncertainty and have prompted investors to rush to the safe haven. Meanwhile, upbeat US jobs data and persistent inflation worries are expected to keep the Federal Reserve cautious about rate cuts, providing further support to gold prices. Despite modest US Dollar strength and overbought technical conditions, the fundamental backdrop suggests the path of least resistance remains to the upside. Traders now await Fed Chair Jerome Powell’s testimony and key inflation data for further direction. KEY LOOKOUTS • Trump’s new tariffs on steel and aluminum escalate US-China tensions, driving investors toward safe-haven assets like gold amid economic uncertainty. • Rising inflation fears, fueled by protectionist policies, strengthen gold’s appeal as a hedge against price increases despite the Federal Reserve’s cautious stance. • The Fed’s decision on interest rates remains key, as resilient labor market data and inflation trends could impact gold’s bullish momentum. • Gold faces resistance near $2,900, while overbought RSI signals possible consolidation; key support levels to watch are $2,855 and $2,834. Gold prices continue to rally amid escalating trade war fears and inflation concerns, driven by US President Donald Trump’s announcement of new tariffs on steel and aluminum imports. Investors seek refuge in the safe-haven metal as economic uncertainty looms, while inflationary pressures further boost gold’s appeal. Despite the Federal Reserve’s cautious stance, resilient US labor market data and persistent inflation could limit room for further rate cuts, supporting gold’s bullish outlook. However, technical indicators signal overbought conditions, suggesting potential consolidation near the $2,900 resistance level, with key support at $2,855 and $2,834 to watch for potential pullbacks. Gold prices surge to record highs amid escalating trade war fears and inflation concerns, with investors seeking safe-haven assets. While the Federal Reserve’s cautious stance supports gold, overbought technical conditions hint at possible consolidation near the $2,900 resistance level. • XAU/USD reaches a fresh all-time high around the $2,896-$2,897 region amid strong safe-haven demand. • Trump’s new 25% tariffs on steel and aluminum imports escalate US-China tensions, boosting gold’s appeal. • Protectionist policies may reactivate inflation, reinforcing the reasons to hold gold as a hedge against rising prices. • Strong labor market and inflationary worries might prevent the Fed from reducing interest rates, further supporting gold’s bullish outlook. • A slight USD advance might cap the rally in gold, but the fundamental setup is supportive. • Gold is resisted around the $2,900 area, with overbought RSI conditions pointing to consolidation. • Immediate support lies at $2,855 and $2,834, with a further decline targeting the $2,815-$2,800 range. Gold prices continue their upward trajectory, reaching a fresh all-time high around the $2,896-$2,897 region as investors seek refuge in the safe-haven asset amid rising economic uncertainty. US President Donald Trump’s announcement of new 25% tariffs on steel and aluminum imports has intensified fears of a trade war, prompting increased demand for gold. Additionally, concerns over inflationary pressures due to protectionist policies have further strengthened gold’s status as a hedge against rising prices. Meanwhile, the US labor market remains resilient, with a lower-than-expected unemployment rate, which could limit the Federal Reserve’s ability to ease monetary policy. Despite modest US Dollar strength, gold maintains its bullish momentum, signaling strong investor confidence in the metal. XAU/USD Daily Price Chart TradingView Prepared by ELLYANA Gold’s technical outlook remains bullish, but overbought conditions on the daily Relative Strength Index (RSI) suggest a potential short-term consolidation or pullback. The key resistance level stands at $2,900, and a sustained break above this could push prices toward $2,920-$2,930. On the downside, initial support lies at $2,855-$2,854, with stronger buying interest expected around $2,834. If bearish pressure intensifies, the next critical support zone is near $2,815-$2,800. Moving averages indicate continued strength, reinforcing the long-term uptrend, while traders closely watch upcoming economic data and Federal Reserve signals for further price direction. TECHNICAL ANALYSIS Gold (XAU/USD) remains in a strong uptrend, but overbought conditions on the daily Relative Strength Index (RSI) indicate the possibility of short-term consolidation or a minor pullback before further gains. The immediate resistance lies at the psychological $2,900 level, and a sustained breakout above this could push prices toward the $2,920-$2,930 range. On the downside, initial support is seen at $2,855-$2,854, with further key levels at $2,834 and $2,815. If gold breaks below these levels, a deeper retracement toward the $2,800 mark could follow. Moving averages continue to move up, specifically 50-day and 200-day EMAs. Traders would watch the short-term momentum indicators and price action for a breakout confirmation in either direction, given that short-term direction could shift based on upcoming US inflation numbers and signals coming from the Fed. FORECAST The current trend in the gold prices continues to remain uptrended; safe haven, as well as inflation, would continue to sustain the uptrend. The bullish momentum suggests that gold could break above the psychological $2,900 mark, with the next potential target around $2,920-$2,930. If trade tensions between the US and China escalate further or inflation fears intensify, gold may see additional upside, attracting more investors seeking a hedge against economic instability. The Federal Reserve’s stance on interest rates will also play a crucial role in sustaining the bullish momentum. Should the Fed signal a more dovish approach due to persistent economic risks, gold could gain further, testing new record highs in the coming weeks. Despite gold’s strong rally, short-term pullbacks remain a possibility due to overbought technical conditions. The Relative Strength Index (RSI) indicates that gold is approaching an overextended zone, suggesting the potential for a temporary correction. If profit-taking sets in, initial support is expected near the $2,855-$2,854 region, followed by stronger support at $2,834. A deeper retracement could bring the price down to $2,815 or even the $2,800 psychological level, where fresh buying interest

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Commodities Gold

Gold price Struggles near record highs as USD gains, Fed Rate speculations in focus

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  • February 7, 2025
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The gold price XAU/USD has remained at near record levels but failed to make any real momentum as the US Dollar was slightly higher going into the US Nonfarm Payrolls report. Though trade war tensions and a general expectation for a Federal Reserve rate cut should keep the precious metal well supported, caution continues to prevail in bullish traders’ camp. Deteriorating US Treasury yields and persisting economic jitters remain supportive of safe-haven gold. However, the technical indicators provide an overbought reading-a precursor to near-term consolidation before an extended move, after which the key support levels at $2,855 and $2,800 will watch the breach down for further correction. KEY LOOKOUTS • The next NFP report will dictate the market expectations about the Fed’s rate path and, hence, the USD demand and the gold price direction in the near future. • Multiple Fed rate cuts by 2025 are supporting gold, but strong labor market data could alter this scenario. • Increasing geopolitical risks and retaliatory tariffs imposed by China on US goods improve the safe-haven appeal of gold, capping downside risks despite short-term USD strength. • Gold remains near record highs, but RSI signals overbought conditions, with key support at $2,855 and resistance near $2,900 for further momentum. Gold price remains near record highs as investors weigh multiple factors, including the upcoming US Nonfarm Payrolls (NFP) report, Federal Reserve rate cut expectations, and escalating US-China trade tensions. While the weakening US Treasury yields and safe-haven demand support gold, a modest USD uptick ahead of key economic data creates short-term uncertainty. Technical indicators suggest overbought conditions, signaling a potential consolidation before any further uptrend. Key support levels at $2,855 and $2,800 will be crucial in determining the next move, while resistance near $2,900 could challenge bullish momentum in the near term. Gold price lingers around record highs due to Fed rate cut expectations and trade tensions, yet it faces strong resistance from a modest USD uptick. Determinative key levels will be for the next step: $2,855 and $2,900. The technical indicators go even further to suggest short-term consolidation. • Gold refuses to hold its ground off the all-time high for a modest USD uptick. • Market speculations of several Fed rate cuts in 2025 support gold’s bullish view even with positive labor market numbers. • The NFP release will influence USD demand and is likely to push gold in one direction or another. • Growing geopolitical tensions, along with China’s retaliatory tariffs on US goods, will continue to boost gold’s safe-haven status. • Declining bond yields make non-yielding assets, such as gold, more appealing and add more support. • This RSI indication of overbuying could eventually lead to temporary consolidation before entering an extended rise. • Areas of support here are at the levels of $2,855 and $2,800 and resistance is capped near $2,900 for the bulls Gold price in XAU/USD stays almost at all time highs but under pressure due to a slight upside in the USD as investors focus on the NFP from the US. While positive expectations about rate cuts by the Federal Reserve and falling US Treasury yields continue to support the bullish outlook on metal, short-term consolidation seems probable because of technical overbought conditions. Apart from those factors, geopolitical risks, particularly increasing tensions in the US-China trade, continue to fuel safe-haven demand for gold, preventing a more significant downtrend despite some profit-taking. XAU/USD Daily Price Chart TradingView Prepared by ELLYANA The price of gold is trading close to record highs due to the expectations of cuts in the Federal Reserve rate and safe-haven demand amid US-China trade tensions. However, a modest increase in the US Dollar ahead of the Nonfarm Payrolls report has capped the further upside and thus the market sentiment is cautious. The technical indicators are also pointing towards an overbought situation, and a short-term pullback may occur before the next breakout. The important resistance levels are at $2,900 while support at $2,855 and $2,800 will definitely be the make or break situation. Traders are closely observing any significant change in economic data and geopolitical development which will define gold’s price action in the coming days. TECHNICAL ANALYSIS Gold price (XAU/USD) remains in a strong uptrend but faces resistance near the $2,900 level, while key support is seen at $2,855 and $2,800. The Relative Strength Index (RSI) shows that the market is overbought, so the price might enter into short-term consolidation before another breakout. A decisive move above $2,900 will open the way to further growth, while a break below $2,800 will trigger additional selling pressure. Although the moving averages stay aligned in favour of bulls and continue to confirm the overall bullish trend, traders should expect corrections before fresh long positions. FORECAST Gold prices remain in long-term bullish, supported by expected multiple Federal Reserve rate cuts, and declining U.S. Treasury yields. If the NFP data does indicate a weakness in the US labor market, it would bode well for gold, potentially pushing prices beyond the key resistance at $2,900. A sustained move above this would open the path for further rallies towards $2,950 and even $3,000 within the next week or so. Furthermore, growing US-China trade tensions and a general sense of economic uncertainty might keep demand pretty high for the yellow metal since investors are still looking for safety from market volatilities. Despite its strong rally, gold faces short-term downside risks due to overbought technical conditions, with the RSI signaling the possibility of a pullback. If the US Dollar strengthens further or NFP data beats expectations, gold could see a correction toward the $2,855 and $2,800 support levels. A decisive break below $2,800 could trigger additional selling pressure, potentially dragging prices toward $2,750 or lower. However, some fundamentals – such as monetary policy by central banks and political uncertainty – would be unlikely to let gold decline sharply and will keep the gold supported in the long term.

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