GOLD news:
Gold regained some of its luster on Tuesday, driven by concerns over tariffs. The XAU/USD pair climbed to $3,036.04 early in the U.S. trading session as headlines regarding U.S. President Donald Trump’s tariff plans weighed on the U.S. Dollar.
Reports indicated that Trump intends to implement a two-step approach to his tariff strategy, aiming to establish a more structured legal framework for the president’s reciprocal tariff regime.
Meanwhile, geopolitical developments emerged, highlighting progress toward a ceasefire between Russia and Ukraine. The news suggested a “maritime ceasefire,” effectively reinstating the Black Sea Grain Initiative, which enables Ukraine to export grain and agricultural products to global markets.
Earlier in the day, the U.S. reported a significant decline in consumer confidence for March. The CB Index fell to 92.9, below the expected 94.2 and sharply lower than the previous 100.1.
Personal analysis:
Gold has had a correction in recent days, and the buyers are gradually regaining control after failing to break the 3000 level. Therefore, waiting to buy at a cheaper price is a reasonable choice
Analysis based on resistance – support levels and Pivot points combined with EMA to come up with a suitable strategy
Plan:
Price Zone Setup:
Sell Gold 3038- 3040
SL: 3044 | TP: 3033 – 3028 – 3023
Buy Gold 3005 – 3007
SL: 2999 | TP: 3012 – 3018 – 3025
FM wishes you a successful trading day