Forex Trading Tools and Services

Commodities Gold

Gold Rallies in the Face of Intensifying Trade War: Safe-Haven Demand and Market Uncertainty Push Prices Up

Gold jumped more than 1% as intensifying trade tensions between the U.S., Canada, and China drove demand for the safe-haven asset. U.S. President Donald Trump announced tariffs on imports from these nations, leading to retaliatory actions, including a 25% tariff from Canada and up to 15% levies from China on U.S. agricultural goods. The trade war uncertainty, combined with weakening U.S. Treasury yields at a five-month low, has bolstered the appeal of gold. Technicals are pointing towards more bullish pressure, with the main resistance at $2,917 and possible support at $2,866. Market players are also watching Federal Reserve rate cut expectations, which have climbed to 85.6%, further shaping the path of gold. KEY LOOKOUTS • The back-and-forth tariffs among the U.S., Canada, and China are also sparking uncertainty and leading investors towards safe-haven investments such as gold. • The U.S. 10-year yield registered a five-month low at 4.11%, making gold even more appealing as a bet against economic unrest and inflation. • With 85.6% chances of a Fed interest rate cut within six months, falling interest rates would further continue gold’s momentum. • Gold is resisting at $2,917 while support at $2,866 is critical to break in order to avoid another fall in the market. Gold is gaining further traction as rising trade tensions between the U.S., Canada, and China push investors towards safe-haven. The move by the U.S. to impose retaliatory tariffs, such as Canada’s 25% tariff on American imports and China’s 15% tariffs on agricultural products, has increased market uncertainty. Meanwhile, U.S. Treasury yields fell to a five-month low of 4.11%, enhancing gold’s appeal as a hedge against economic turmoil further. As Federal Reserve rate cut hopes surged to 85.6% by June, decreasing interest rates could be supportive of gold prices further. From a technical standpoint, gold has resistance at $2,917, and support at $2,866 has to remain firm to avoid further downward pressure. Gold holds up as rising tensions in trade pressure safe-haven demand, while U.S. Treasury yields decline to a five-month low. Expectations for Federal Reserve interest rate cuts also stand at 85.6% and back bullish sentiment further, as central resistance at $2,917 and support at $2,866 will indicate the next move. • Tariffs imposed by the U.S., Canada, and China continue to fuel the uncertainty in markets and raise the safe-haven demand for gold. • Gold rose more than 1% and trades at about $2,910 on concerns of trade war and weakening U.S. Treasury yields. • The U.S. 10-year yield reached a five-month low at 4.11%, contributing to gold’s appeal as an alternative asset. • Market odds for a Fed rate cut within six months are up to 85.6%, further supporting gold’s bullishness. • Gold is encountering resistance at $2,917, with the record high of $2,956 the next big level to respect. • Support at $2,866 is vital to stave off more losses, with further support available at $2,842 in case selling rises. • Congested price bars signal uncertainty on the part of investors, while safe-haven demand is due to keep gold propped up against further backdrop of geopolitical and economic uncertainty. Gold continues to be in focus for investors amid rising trade tensions between the U.S., China, and Canada. The announcement by U.S. President Donald Trump to charge tariffs on Chinese and Canadian imports has sparked reprisals with Canada slapping a 25% tariff on American goods and China imposing 15% tariffs on major agriculture products. This back-and-forth trade war has spurred economic volatility, causing safe-haven asset demand to increase, such as gold. With global markets responding to the latest disagreements, investors are keeping an eye on further policy actions and economic reactions from the involved countries. XAU/USD Daily Price Chart Chart Source: TradingView Also, concerns regarding the general economic outlook still shape investor mood. The Federal Reserve is under mounting pressure to reduce interest rates, with market expectations for a rate cut by June reaching 85.6%. Geopolitical news, such as the U.S. temporarily suspending military aid to Ukraine, also contributes to the uncertainty. As inflation worries linger and economic growth continues to slow, the position of gold as a hedge against uncertainty will continue to be strong, rendering it an attractive asset for conservative investors. TECHNICAL ANALYSIS Gold continues to exhibit good momentum, building on its recent gains as market uncertainty persists. The price is currently consolidating in a tight band, demonstrating indecision from investors following last week’s volatility. The intraday Pivot Point of $2,879 is acting as the main support, with resistance at $2,917 being the next level to monitor for further upward movement. If the bullish momentum continues, a possible test of the all-time high of $2,956 is still on the cards. On the bearish side, $2,866 is a very important support level, corresponding to earlier lows. A fall below this level may result in additional selling pressure towards $2,842. Investors need to keep a close eye on these levels, as any breakout would determine the direction of the next trend. FORECAST The bullish momentum in gold is still intact as global uncertainties push investors towards safe-haven assets. If trade tensions between the U.S., Canada, and China continue to escalate, gold prices may witness a further rally. A breakout above the crucial resistance at $2,917 could drive prices towards the all-time high of $2,956. Moreover, growing hopes for a Federal Reserve rate cut by June can also add to gold’s upside, as lower interest rates make the U.S. dollar weaker and hence gold more desirable. If inflation fears continue along with slowing growth, gold could stay in favor, and upward pressure on prices would persist. Conversely, any easing of trade tensions or diplomatic breakthroughs can dampen gold’s safe-haven appeal. A rising U.S. dollar, potentially driven by more positive economic readings or lowered expectations for interest-rate cuts, would also serve as a potential damper for gold prices. In the event that selling builds momentum, falling through the significant support at $2,866 might lead to more losses to $2,842. More profound correction can

Commodities Gold

Gold Price Floats Close to Weekly Lows Despite Increasing US Bond Yields and Trade Risk

Gold prices are under strain, trading close to a weekly low of less than $2,900 as increasing US Treasury bond yields strengthen the US Dollar. A minor USD rebound combined with a good equity market mood has dented demand for the safe-haven metal. Nonetheless, volatility regarding US President Donald Trump’s tariff strategy and persisting concerns about the ongoing trade war lends some support to XAU/USD. While in the meantime hopes for further Federal Reserve interest rate cuts based on indications that the US economy is slowing offer a cap to gold losses, market participants look to future US economic releases such as Q4 GDP, Durable Goods Orders, and the Fed’s favored measure of inflation, the PCE Price Index, for more market guidance. KEY LOOKOUTS • Higher US Treasury bond yields are favoring the US Dollar, putting downward pressure on gold prices and capping upside moves. • Doubts surrounding President Trump’s plans on tariffs, especially on imports from the EU, Mexico, and Canada, can affect safe-haven demand for gold. • Market expectations of more Fed rate cuts due to weakening US economic growth can act as a floor to gold, capping its downside. • Major releases such as Q4 GDP, Durable Goods Orders, and the PCE Price Index will provide new information about economic conditions and gold price action. Gold prices are still volatile as investors closely watch major economic and geopolitical events. The increasing US Treasury bond yields have supported the US Dollar, putting downward pressure on the precious metal. In the meantime, uncertainty regarding President Trump’s tariffs strategies, particularly possible levies on European goods, persists and continues to move markets. Regardless of these bearish elements, hopes for additional Federal Reserve rate cuts as evidenced by slowing US growth could offer some purchasing pressure support for gold. Further, near-term US economic data releases such as Q4 GDP, Durable Goods Orders, and the PCE Price Index will be instrumental in deciding the future direction for XAU/USD. Gold prices remain under pressure as rising US bond yields strengthen the US Dollar, weighing on the metal. Uncertainty over Trump’s tariff plans and expectations of Fed rate cuts may influence price movements. Key US economic data, including Q4 GDP and the PCE Price Index, will provide further direction. • XAU/USD trades below $2,900, pressured by rising US bond yields and a stronger US Dollar. • A US Treasury yield rally strengthens the USD, putting downward pressure on gold prices. • New tariffs on EU imports and Mexican and Canadian tariff delays instill market uncertainty, affecting gold demand. • Market speculation of additional Fed rate cuts in a slowing US economy can be bullish for gold. • Q4 GDP, Durable Goods Orders, and the PCE Price Index will be key drivers of short-term gold price action. • The key support is at $2,888, and a break below $2,860 could initiate further weakness down to $2,800. • A breakout above $2,920 may see selling pressure around $2,930, but persistent strength can drive gold up to $2,950-$2,955 resistance. Gold prices continue to be shaped by general economic and geopolitical conditions as investors weigh the effects of increasing US bond yields and trade tensions. The rising US Dollar, bolstered by a recovery in Treasury yields, continues to pressure the precious metal. But worries over President Trump’s tariff policies, including possible tariffs on European imports and ongoing trade tensions with Mexico and Canada, foster an environment of uncertainty. These geopolitical trends tend to propel safe-haven demand, making gold still a part of investors’ investment portfolios. Further Federal Reserve interest rate reductions, fueled by the indications of an economic growth slowdown, may also influence gold’s long-term attractiveness. GOLD Daily Price Chart Chart Source: TradingView Market participants are now keenly observing the significant US economic data releases that may further indicate the economic outlook. Data releases like Q4 GDP, Durable Goods Orders, and the PCE Price Index will assist in assessing the US economy’s strength and impact investor mood. Further guidance on the central bank’s future monetary policy may also be provided by speeches from Federal Reserve officials. Against these events, gold continues to be an asset of interest, with investors weighing its safe-haven attraction against changing macroeconomic fundamentals. TECHNICAL ANALYSIS Gold prices are immediately supported at the $2,888 level, with further downside risk to the $2,860-$2,855 area if bearish momentum continues. A break below this area would increase selling pressure, driving prices towards the $2,834 level and potentially the psychological $2,800 level. To the upside, resistance is found near the $2,920 level, with further selling pressure anticipated around the $2,930 area. A continued breakout above this barrier may set the stage for additional gains towards the $2,950-$2,955 resistance zone, which is the record high achieved earlier this week. The next direction will be closely monitored by traders through price action at these significant levels. FORECAST Gold prices might experience increased downward pressure in the near term on account of a rising US Dollar and an increase in Treasury bond yields. As the USD recovers from multi-month lows, investor psychology can be inclined towards riskier assets, decreasing demand for the safe-haven metal. Further, a bullish sentiment in equity markets and confusion over US tariff policies can be adding to short-term selling pressure. If bearish momentum grows, gold may test lower supports at $2,860, with further downside potential towards $2,834 or even $2,800. On the plus side, gold still has recovery potential if macroeconomic conditions become favorable to it. Rising hopes of cuts in Federal Reserve rates, underpinned by evidence of declining US economic growth, may raise gold demand since lower interest rates lower the opportunity cost of carrying non-yielding assets. Apart from that, geopolitical tensions in the form of trade uncertainties with regards to President Trump’s policy of tariffs might underpin safe-haven purchasing. If gold is able to overcome the $2,920 resistance level, it could gain more momentum towards the $2,950-$2,955 zone, with the possibility of testing new highs if positive sentiment continues to build.

Commodities Gold

Gold Price Retreats On Profit-Taking, But Bullish Momentum Intact

Gold price (XAU/USD) continues its intraday drop from a record high, falling to the $2,929 area as investors take profits. Yet, worries about US President Donald Trump’s tariff proposals and expectations of Federal Reserve rate cuts still support the precious metal. In spite of a modest recovery in the US Dollar, softer macroeconomic data and gold-backed ETF inflows support the bullish view. Short-term consolidation or a mild pullback is probable, but the general direction is higher, with robust support at $2,920-$2,915. Market participants now look to important US economic releases and FOMC speeches for further cues. KEY LOOKOUTS • Robust support around $2,920-$2,915 may see dip buyers, capping further losses. • FOMC commentary and US economic reports could issue new directional impulses for XAU/USD. • The levels of $2,900 and $2,880 serve as pivotal support zones, while an upward break over recent highs will trigger additional strength. Price of gold remains under the microscope as it pullbacks from fresh record highs through profit-taking but the overall upward trend remains very much in tact. Market sentiment is driven by expectations of Federal Reserve rate cuts and concerns over US trade policies, which continue to support demand for the safe-haven metal. Strong technical support near the $2,920-$2,915 zone may attract dip buyers, preventing deeper losses. Meanwhile, upcoming US economic data, including the Consumer Confidence Index and PCE Price Index, along with FOMC speeches, could influence the next move in XAU/USD. Traders are on guard, monitoring major support and resistance levels for additional price action. Gold price pulls back from highs on profit-taking, yet Fed rate cut expectations and fear of trade war ensure bullish drive continues. Major support around $2,920-$2,915 would catch dip buyers, though future US economic releases may dictate future price action. • Gold price pulls back from highs as traders take profits, though overall bullish trend continues. • Bets on additional Federal Reserve rate cuts underpin the non-yielding bullion, capping deeper losses. • US President Donald Trump’s plans for tariffs increase economic uncertainty, enhancing gold’s safe-haven appeal. • Firm buying interest anticipated in the $2,920-$2,915 area, followed by $2,900 and $2,880 as key downside levels. • A modest recovery in the US Dollar places some pressure on gold, but softer macroeconomic data maintains bullish sentiment. • Investors look to US Consumer Confidence Index, Richmond Manufacturing Index, and PCE Price Index for new market signals. • Latest numbers reflect the highest weekly inflow in physically backed gold ETFs since March 2022, reflecting gold’s high demand. Investors are focusing on gold because market mood is driven by policy choices and economic uncertainties. Profit-taking saw some back-tracking from new highs, though, but the deeper drivers in terms of concern around trade war risks and the possibility of Fed rate cuts have ensured its use as a haven asset remains supported. With potential escalations on US President Donald Trump’s tariffs being a danger signal for international markets, market players are all ears for their implications. Furthermore, the most recent economic indicators indicate a slowdown, further boosting the demand for gold as an economic stability hedge. XAU/USD Daily Price Chart TradingView Prepared by ELLYANA Investor demand for gold-backed ETFs has also increased, with the biggest weekly inflow since March 2022, indicating ongoing confidence in the metal. In the meantime, Federal Reserve policymakers are still cautious on future rate moves, highlighting the requirement for additional economic clarity before additional cuts. As inflation reports and consumer confidence data are revealed, gold is still a favored asset in times of market uncertainty. Investors and traders are still watching geopolitical events and economic data, keeping gold on their radar as a long-term volatility hedge. TECHNICAL ANALYSIS Gold is still in a consolidation phase after hitting all-time highs, with solid support at the $2,920-$2,915 area. The price action indicates that the recent dip is actually a temporary correction and not a trend reversal, as the overall bullish momentum is still intact. The Relative Strength Index (RSI) is close to the overbought area, suggesting possible short-term consolidation before another move upward. If gold holds support at $2,900, it may draw new buying interest, while a clean break below this level could set the stage for further losses to the $2,880-$2,855 area. Resistance is close to recent highs, and a breakout above those levels could set the stage for additional gains. Traders will be watching closely for upcoming US economic data and Fed commentary for possible direction. FORECAST Gold’s bullish impulse continues to ride high, supported by hopes for Federal Reserve interest rate cuts and global economic unrest keeping the safe-haven commodity buoyant. Should market sentiment be in the direction of yet more monetary policy loosening, gold may re-ignite its buying interest with prices potentially approaching new highs. A break sustained above recent tops may set up for more strength, with fund demand and ETF inflows also serving as supplementary drivers. Any indication of heightened economic uncertainty or geopolitical tensions would help further boost the appeal of gold, maintaining the bearish trend intact. Downside, gold could witness occasional pullbacks on account of profit-taking and short-term US Dollar strength. In case of failure of key supports around levels of $2,920-$2,915, a more significant correction towards the levels of $2,900 and $2,880 is possible. Strong economic reports or a hawkish tone from Federal Reserve officials may also put pressure on gold, causing short-term losses. As long as the overall trend is positive, however, dips will tend to draw in new buyers, capping deeper losses and supporting gold’s long-term trend.

Commodities Gold

Gold Price Remains Steady Near $2,900: Market Sentiment, USD Influence, and Prospects Ahead

Gold price (XAU/USD) remains stable near the $2,900 level, buoyed by persistent fears of a global trade war owing to US President Donald Trump’s protectionist tariff measures. Though the precious metal gains from a softer US Dollar in the wake of disappointing retail sales figures, the market remains on guard as the Federal Reserve continues to stick to its hawkish stance. Optimism in US-Russia peace negotiations and positive risk mood have capped gains. Technically, gold’s positive bias holds good, with important resistance levels at $2,925 and an all-time high at $2,943, and key support levels of $2,885 and $2,855. Any solid break below $2,785 would lead to a sharp correction.  KEY LOOKOUTS • Fears over Trump’s possible trade tariffs, such as on autos, may propel safe-haven demand for gold, greatly affecting price action. • The Fed’s aggressive stance and anticipation of extended higher rates can affect gold’s attractiveness, with market now looking towards a possible rate cut in September. • USD movement, as driven by economic releases and Treasury yields, is still a pivotal determinant of gold’s short-term price direction. • Gold is resisted at $2,925 and $2,943, while significant support levels at $2,885 and $2,855 may determine the next market direction. Gold price is still sensitive to various issues, such as US tariff policy, Federal Reserve actions, and the US Dollar strength. Increased fear of Trump’s possible trade tariffs, especially on cars, has supported safe-haven demand for gold. In the meantime, sentiment remains skewed towards a September Fed rate cut over year-end, which is supporting market views. The price action of the US Dollar, fueled by Treasury yields and economic data, is instrumental in setting the near-term gold direction. Technically, resistance around $2,925 and $2,943 could cap advances, with support around $2,885 and $2,855 being the game-changers in stopping a steeper correction. Gold price fluctuates around $2,900, pushed by US tariff worries, Fed actions, and USD fluctuations. Important resistance at $2,925 and support at $2,885 are still pivotal. • Gold price holds steady at the $2,900 level, buoyed by safe-haven buying amid geopolitical and economic risks. • Trump’s proposed tit-for-tat tariffs and possible automobile tariffs stoke fear of a worldwide trade war, making gold more attractive. • The hawkishness of the Fed and anticipation of a rate cut delay influence gold’s short-term price action. • A bearish US Dollar, fueled by poor US Retail Sales figures, has temporarily boosted gold prices. • US-Russia talks, as well as increased tensions in Ukraine, bolster gold’s safe-haven demand. • The resistance is found at $2,925 and $2,943, and the key support areas are at $2,885 and $2,855, dictating price action. • A combination of risk-on mood and tension about inflation impacts gold’s ability to hold gains or correct lower. Gold price continues to be technically resilient, holding on to its bullish foundation around the $2,900 level. The Relative Strength Index (RSI) has cooled off from overbought levels, diminishing the likelihood of an immediate correction while continuing to support additional upside potential. Critical resistance levels to monitor are $2,925, followed by the all-time high around $2,943. A successful breakout above this area could stimulate fresh buying, continuing the uptrend and opening the door to higher levels. Moving averages also show a strong bullish trend, supporting the potential for additional gains if market conditions continue to be favorable. XAU/USD Daily Price Chart TradingView Prepared by ELLYANA On the downside, near-term support is at $2,885, followed by a more robust support area around $2,855 and $2,834. If gold falls below these levels, buyers might come in to support the uptrend, capping losses. Still, a clear-cut breakdown below $2,800 might turn sentiment to bearish side, causing a more extensive correction towards $2,785-$2,784. Participants also need to keep an eye on global economic news, specifically US interest rate expectations and geopolitics, that might fuel volatility and impact gold’s price movements in the near term. TECHNICAL ANALYSIS Gold price continues to be in bullish territory, sustaining itself at the $2,900 level. The Relative Strength Index (RSI) has declined from the overbought territory, indicating scope for further action, with other oscillators remaining in positive favor. Near-term resistance is at $2,925, with the all-time high around $2,943. A convincing breakout above this level would propel fresh buying momentum, extending the current uptrend. Support is seen at $2,885 on the downside, with firm demand likely at $2,855 and $2,834. A break below $2,800 with continued momentum would indicate a deeper correction, and possibly a bearish change in direction. FORECAST Gold price is well-set up for additional gains, with good technical support and safe-haven demand being major drivers. If the price holds above the $2,900 level, an initial drive up towards the $2,925 resistance level is anticipated. A clean breakout above this level can see gold challenge its all-time high of $2,943, and if the momentum continues, it might stretch further to $2,960-$2,975. Events like continued US Dollar weakness, heightened geopolitical tensions, or a dovish turn in the Federal Reserve stance may further accelerate the rally in gold. Gold’s positive outlook notwithstanding, downside risks are present. If the price is rejected at resistance levels and goes below $2,885, it may lead to a pullback to $2,855 and then to $2,834. A breach below the crucial psychological level of $2,800 would mark a change in sentiment, leading to a more significant correction to $2,785 or even $2,750. Improved US economic data, a US Dollar rebound, or decreased geopolitical tensions may cap gold’s upside and mount selling pressure in the short term.

Commodities Gold

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

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

Commodities Gold

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

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.

Commodities Gold

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

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

Commodities Silver

Silver Price Forecast: XAG/USD Targets Fresh Highs Amid Strong Bullish Momentum

Silver (XAG/USD) continues its bullish momentum, trading near $32.00 per troy ounce, supported by strong technical indicators. The metal remains above the nine-day and 14-day EMAs, reinforcing its short-term uptrend. With the RSI above 50 and the price advancing within an ascending channel, silver could retest its three-month high of $32.65, with a potential breakout targeting the psychological level of $33.00. Key support levels are found at $31.71, $31.44, and $31.10, with a break below these potentially shifting the trend bearish toward December’s low of $28.74. KEY LOOKOUTS • Silver faces a key resistance level at its three-month high of $32.65; a breakout could drive prices toward the psychological barrier of $33.00. • The nine-day EMA at $31.71 acts as immediate support; a breach below this level could weaken bullish momentum and trigger further declines. • The 14-day RSI remains above 50, signaling continued bullish strength; sustained momentum could reinforce the uptrend and push silver toward new highs. • The price of silver trades in an ascending channel and thus is considered very bullish. To continue with further gains, the price has to hold above the lower boundary of $31.10. Silver (XAG/USD) continues with the bullish sentiment. It has traded within the ascending channel and above the crucial support levels. At present, the price has been facing crucial resistance at $32.65, and the break above that can take the price towards the psychological level of $33.00. The nine-day EMA at $31.71 serves as immediate support, while the 14-day EMA at $31.44 and the channel’s lower boundary at $31.10 provide additional safety nets for bulls. With the RSI above 50, market sentiment remains positive, reinforcing the likelihood of further gains unless silver breaks below critical support zones, which could shift momentum bearish toward $28.74. Silver (XAG/USD) continues its bullish trend, facing key resistance at $32.65, with a breakout potentially driving prices toward $33.00. Strong support at $31.71 and the RSI above 50 reinforce the uptrend, while a break below $31.10 could weaken momentum. • Silver faces a crucial resistance at its three-month high; a breakout could push prices toward the psychological level of $33.00. • The nine-day EMA acts as strong support; a break below this could weaken the bullish momentum. • Silver trades within an ascending channel, indicating a strong uptrend unless the lower boundary at $31.10 is breached. • The 14-day RSI remains above 50, signaling continued bullish strength and supporting further upside potential. • Silver remains above the nine-day and 14-day EMAs, reinforcing a strong bullish outlook. • A break below key support levels ($31.71, $31.44, and $31.10) could expose silver to further downside, potentially testing $28.74. • If silver breaks above $32.65, it could aim for the next key psychological resistance at $33.00, further strengthening the bullish outlook. Silver (XAG/USD) continues to trade within a strong bullish trend, hovering near $32.00 while finding support at key moving averages. The metal stays above the nine-day EMA at $31.71 and the 14-day EMA at $31.44, so short-term momentum is strong. With the RSI above 50, silver is still on a positive track, and a breakout above the critical resistance level of $32.65 may take prices up to the psychological barrier of $33.00. The ascending channel formation continues to support the ongoing uptrend, keeping buyers in control as long as the lower boundary at $31.10 holds. XAG/USD Daily Price Chart TradingView Prepared by ELLYANA But if silver cannot hold the bullish momentum, a breakdown below $31.71 may push the price further down and open it to deeper retracements. A break of the 14-day EMA at $31.44 and the lower boundary of the ascending channel at $31.10 may change the market sentiment and push the price down to December’s low of $28.74. Traders should closely watch resistance at $32.65 and key support levels to gauge the next directional move in silver prices. TECHNICAL ANALYSIS Silver (XAG/USD) exhibits strong bullish momentum on the daily chart, trading within an ascending channel while holding above key moving averages. The nine-day EMA at $31.71 and the 14-day EMA at $31.44 act as crucial support levels, sustaining the uptrend. The Relative Strength Index (RSI) remains above 50, indicating sustained bullishness and leaving room for a further move upwards. The initial resistance level to watch is the three-month high at $32.65. A break above this level might send prices upwards to $33.00. A break below $31.10, which is the lower boundary of the ascending channel, might weaken momentum and leave silver vulnerable to a drop to the level of $28.74. FORECAST Silver (XAG/USD) continues to show strong bullish momentum, with technical indicators supporting further gains. The price remains above key moving averages, with the nine-day EMA at $31.71 and the 14-day EMA at $31.44 acting as strong support levels. If silver sustains its current uptrend, it could retest its three-month high of $32.65, a critical resistance level. A breakout above this could push the price toward the psychological mark of $33.00, further strengthening bullish sentiment. The RSI staying above 50 and the price moving within an ascending channel indicate that buyers remain in control, increasing the likelihood of continued upward movement. Despite the bullish outlook, silver faces potential downside risks if key support levels fail to hold. A break below the nine-day EMA at $31.71 could indicate weakening momentum, with the next critical support at the 14-day EMA of $31.44. If the price falls below the ascending channel’s lower boundary at $31.10, bearish pressure could accelerate, exposing silver to further losses. In a worst-case scenario, a sharp decline could push XAG/USD toward its five-month low of $28.74, recorded in December. Traders should closely monitor support levels and key technical indicators to assess potential trend reversals.

Commodities Gold

Gold Price Struggles Amid Mixed Signals: Key Levels to Watch Below $2,750

Gold prices (XAU/USD) continue to trade in a range below the $2,750 level, as a mix of factors weighs on the yellow metal, including rebounding US bond yields, revived USD demand, and inflationary concerns triggered by US President Donald Trump’s trade tariff threats. While these factors weigh on the yellow metal, worries about economic fallout and expectations of Federal Reserve rate cuts provide support. Traders are careful ahead of the FOMC meeting and US economic data, with immediate resistance near $2,755-2,757 and key support around $2,725-2,750. A breakout above $2,800 could indicate a fresh bullish trend, while further declines may target key Fibonacci levels below $2,705. KEY LOOKOUTS • Gold faces strong resistance near $2,757, with a potential breakout above $2,800 needed to confirm a bullish continuation. Watch for momentum around these levels. • Supportive levels range from $2,725 to $2,705. If this support breaks, a bigger decline will occur towards the 38.2% and 50% Fibonacci retracement. • Gold’s prices are vulnerable in the short term because of the possible effects on US bond yields and USD as a result of inflation worries raised by the tariff threats made by Trump on the US. • A Federal Reserve decision will dictate market behavior and guide further USD strength moves and potentially a better idea for the future movement of gold. Gold prices are hovering in a tight range below $2,750 as mixed cues rule the market sentiment. The revival of US bond yields, mainly due to inflationary concerns over President Trump’s tariff threats, continues to support the US Dollar while weighing on the precious metal. However, expectations of Federal Reserve rate cuts and concerns over potential economic fallout from protectionist policies give gold prices a floor. Traders are observing key resistance at $2,755-$2,757 and a support at $2,725-$2,705 levels while the upcoming FOMC meeting and US economic data are to be considered the determinants for the next move. A breakout above $2,800 could signal renewed bullish momentum while the break below the key support would open doors for further decline. Gold prices still trade below $2,750 as US bond yields rise on inflationary fears from the tariffs threats. Gold traders are eyeing the FOMC for clearer direction. • Gold is consolidating at the lows around $2,750 and can’t capitalize on the recent bounce from multi-day lows. • US bond yields pick up on the inflationary concerns from President Trump’s trade tariffs, which pushes the USD and weighs on gold. • Bottom support in between $2,725-$2,705, while targets are made on the downside 38.2% and 50% Fibonacci levels. • Markets see immediate resistance near $2,755-$2,757 with a breach above $2,800 likely to initiate positive momentum. • Market expectations of two consecutive 25 bps Fed rate cuts this year would restrict US bond yields and maintain gold prices. • All eyes on the US Durable Goods Orders, and Consumer Confidence Index for the upcoming short-term moves of gold. • This monetary policy of the Federal Reserve would go a long way in shaping the dynamics in the USD and further directional move for gold. Prices in gold (XAU/USD) continue to consolidate below $2,750. There are clearly mixed sentiments at play that prevent prices from rallying higher. Reviving the US bond yields through threats from President Trump’s trade tariffs on inflation has resurged the USD and pushed back on gold. However, expectations of rate cuts by the Federal Reserve and apprehensions over the economic implications of protectionist policies are supporting the yellow metal. The immediate resistance levels are seen around $2,755-$2,757, and a breakout above $2,800 would be required to confirm a fresh bullish trend. On the downside, key support levels are pegged at $2,725-$2,705, which, if breached, could signal a deeper correction toward critical Fibonacci retracement levels. XAU/USD Daily Chart TradingView Prepared by ELLYANA Traders remain cautious ahead of the FOMC meeting scheduled to provide further clarity on US monetary policy and implications for the USD. US economic data, such as Durable Goods Orders and the Consumer Confidence Index, could offer short-term direction for gold. The metal continues to hold up well against mixed market signals above the 23.6% Fibonacci retracement level from the December-January rally. With key data and events on the horizon, the next move in the gold market will be heavily influenced by how these impacts the bond yields, the US Dollar, and market sentiment. TECHNICAL ANALYSIS Gold (XAU/USD) continues to test the 23.6% Fibonacci retracement level of the December-January rally from above. The break above the $2,720-$2,725 resistance zone has now flipped this zone into a key support level, but for now, it cushions price to further decline. Oscillators on the daily charts have remained in positive territory, bolstering the upside move of the stock. Resistance comes at the immediately higher price levels of $2,755-$2,757, then the swing high at $2,772-$2,773 and the all-time peak near $2,790. A break above $2,800 would be sustained and confirm the continuation of the uptrend. On the other hand, a break below $2,725 may lead to a decline toward the 38.2% Fibonacci retracement level near $2,705 and potentially deeper corrections. FORECAST Gold prices will continue to head higher if resistance levels are broken. A break above the $2,755-$2,757 area might push prices up toward the $2,772-$2,773 area. But a drive past that point may be what gets to the all-time high around $2,790. If buyers continue their momentum, breaking the psychologically sensitive $2,800 mark may help solidify a continued continuation of the trend upward due to concerns of inflation in the markets and dovish policies by the Federal Reserve. Positive momentum indicators, along with maintaining above retracement levels at major support points, add fuel to this view. Failure at near $2,725-$2,705 might deepen corrections into gold, breaking through those might slide towards a further 38.2% retracement level, close to the point of $2,705 with selling, even further to potentially breach the zone toward the 50% retracement point about $2,684. A stronger US Dollar and rising US bond yields, driven by hawkish

Commodities Gold

XAU/USD: Gold Price Gains Momentum as Rate Cut Bets Intensify

Gold prices remain firm near multi-month highs, driven by safe-haven demand amid global trade uncertainties and expectations of rate cuts by the Federal Reserve. The uncertainty surrounding US President Donald Trump’s trade policies, coupled with fears of a fresh trade war, has boosted the appeal of the yellow metal. While a modest recovery in the US Dollar and rebounding Treasury yields pose minor headwinds, the overall bullish sentiment persists. Technically, a breakout above key resistance levels suggests further upside potential, with any corrective pullback likely viewed as a buying opportunity. The outlook remains favorable for gold, with bullish traders eyeing a potential challenge to the all-time high. KEY LOOKOUTS • Trade war fears and geopolitical uncertainties continue to drive investors towards gold, solidifying its status as a safe-haven asset amid global market volatility. • Expectations of two rate cuts by the Fed this year boost gold’s appeal, as lower interest rates reduce the opportunity cost of holding the non-yielding metal. • A break above $2,750 resistance may further intensify the bullishness of the market, and crucial support is seen near $2,720 and $2,690. • The Small bull recovery in the US Dollar may cap gold’s gains. Generally, dollar volatility is going to be a key watch for short-term direction. The gold market continues to hold near multi-month highs, supported by a global flight to safety amidst rising geopolitical concerns and a potential trade war. The potential for the US Federal Reserve to cut interest rates this year has also boosted the demand for gold, as non-yielding assets are favored under lower interest rates. A modest recovery in the US dollar and rebounding Treasury yields pose temporary headwinds, but overall sentiment remains bullish. Technically, a decisive breakout above the $2,750 resistance could pave the way for further gains, while support levels near $2,720 and $2,690 are key to sustaining the positive momentum. Gold prices remain near multi-month highs, supported by safe-haven demand and expectations of Fed rate cuts. A breakout above $2,750 could signal further gains, while $2,720 acts as key support. • Gold benefits from global uncertainties and trade war fears, attracting investors as a reliable safe-haven asset. • Expectations of two rate cuts this year enhance the appeal of gold by lowering the opportunity cost of holding the non-yielding metal. • Concerns over US trade policies and global trade wars drive sustained demand for the yellow metal. • A modest recovery in the US Dollar poses minor resistance to gold’s upward momentum. • A breakout above the $2,750 mark could trigger further bullish momentum in gold prices. • Price corrections may find support near $2,720 and $2,690, limiting potential downside risks. • Positive oscillators on the daily chart and a breakout through resistance zones point to continued bullish sentiment for gold. Gold prices remain resilient near multi-month highs, driven by robust safe-haven demand amid escalating geopolitical uncertainties and trade war fears. The concerns of markets over US President Donald Trump’s trade policies, including probable tariffs, continue to fuel interest in the yellow metal. Secondly, expectations for the Federal Reserve to cut twice this year support gold, as less interest reduces the opportunity cost to hold non-yielding assets. Despite a moderate bounce in the US Dollar and resurging US Treasury yields, the underlying remains conducive for more upside for gold prices. XAU/USD Daily Price Chart. Source: TradingView Prepared By ELLYANA Gold prices continue to trend upwards, boosted by strong safe haven demand amid concerns of a global trade war and the anticipation of a Federal Reserve rate cut. The recent breakout above the $2,720 resistance zone has reinforced bullish sentiment, with $2,750 emerging as the next critical level to watch. While a modest recovery in the US Dollar and rebounding Treasury yields may temporarily cap gains, the overall outlook remains positive. Technical indicators suggest room for further upside, with any pullbacks likely finding support near $2,720 and $2,690. Traders remain optimistic about a potential challenge to the all-time high of $2,790. TECHNICAL ANALYSIS From a technical perspective, gold prices have broken through key resistance levels, signaling strong bullish momentum. The recent breakout above the $2,720 supply zone acts as a trigger for further upside, with $2,750 emerging as the next significant resistance. The oscillators on the daily chart are still firmly in positive territory and show no signs of being overbought, which opens up more room for further gains. The key support levels are located near $2,720 and $2,690, and any corrective pullbacks are expected to attract buying interest. A sustained move above $2,750 could pave the way for gold to challenge the all-time high of $2,790, keeping the bullish outlook intact. FORECAST Prices for the yellow metal will likely remain positive, influenced by safe-haven demand due to continuing geopolitical uncertainty and trade war tensions. The non-yielding metal is also likely to be further supported by potential cuts from the Federal Reserve, as they reduce the opportunity cost of holding gold. Technically speaking, a follow-through above $2,750 may provide room to surge all the way up toward the record at $2,790 as more bullish oscillators will also leave much more upside left to come. The metal should see renewed interest to purchase as gold attracts the bullish capital on further rallies into such an unpredictable market period. Positive drivers notwithstanding, the rebound in the US Dollar and ongoing recovery in US Treasury yields could dampen the upside a bit in the short term, unless the support above the $2,720-$2,690 range can be sustained. If that breaks down, technical selling would ensue, taking the price all the way to the $2,660 zone. Other downside risks will arise if the risk-on environment can intensify from lower tensions or more positive than expected economic data. In such a scenario, prices of gold would retrace back towards the $2,625 confluence, being a critical juncture that forms the 100-day EMA and an ascending trendline – which may act as a decisive point for determination of the future directional move.