Gold prices have experienced volatility following the announcement and implementation of President Trump’s new tariff policies. Initially, gold surged to a record high of $3,148.88 per ounce as investors sought safe-haven assets amid escalating trade tensions. However, subsequent market reactions, including stock market sell-offs and profit-taking activities, have led to a retreat in gold prices.
Key Levels:
-Resistance: $3,056.09
-Support: $3,002.63 (if broken, next support at $2,954.46)
Market Scenarios:
Bullish: If gold holds above $3,002.63 and breaks through $3,056.09, it could signal a continuation of the uptrend.
Bearish: A sustained move below $3,002.63 may indicate further downside towards $2,954.46.
This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult with a professional before making trading decisions.