Gold technical analysis
Daily resistance 2930, support below 2892
Four-hour resistance 2930, support below 2882
One-hour resistance 2930, support below 2895
Analysis of gold news: Spot gold rose in the short term on Tuesday, and the price of gold has risen to around $2916/ounce. Supported by the weakening of the US dollar and the market's safe-haven buying stimulated by US President Trump's tariff policy, spot gold closed up $35.40, or 1.24%, at $2892.85/ounce on Monday. On Monday local time, US President Trump said at the NEW press conference that the United States will impose a 25% tariff on Canada and Mexico on the 4th of this month, and said that there is no room for negotiation with these two allies. Trump also said on Monday that the United States will adopt "reciprocal tariffs" from April 2, and will also impose tariffs on countries that take measures to devalue their currencies. In addition, Trump said on social media that the United States will impose tariffs on "external" agricultural products from April 2. Concerns about the health of the economy have resurfaced, boosting market expectations for the Fed's rate cuts and increasing the appeal of gold.
Gold trading suggestions: Gold prices rose by $38 in the last trading session, mainly because US President Trump announced that the 25% tariffs on Mexico and Canada will officially take effect on Tuesday, and the planned reciprocal tariffs will also be implemented on April 2. This move not only made the financial market uneasy, but also triggered widespread global attention to the new economic barriers in North America, providing safe-haven support for gold prices.
From the 4-hour analysis, the upper short-term resistance is near 2930, and the lower support is around 2892. The daily level has not broken through and closed below this position before the market is bullish. The overall trend remains unchanged by relying on this range to maintain the main tone of low-multiple participation. In the middle position, watch more and move less, be cautious in chasing orders, and wait patiently for key points to enter the market.
BUY:2892near SL:2887
BUY:2900near SL:2895
BUY:2910near SL:2905
SELL:2930near SL:2935
Use small size to control risk
Daily resistance 2930, support below 2892
Four-hour resistance 2930, support below 2882
One-hour resistance 2930, support below 2895
Analysis of gold news: Spot gold rose in the short term on Tuesday, and the price of gold has risen to around $2916/ounce. Supported by the weakening of the US dollar and the market's safe-haven buying stimulated by US President Trump's tariff policy, spot gold closed up $35.40, or 1.24%, at $2892.85/ounce on Monday. On Monday local time, US President Trump said at the NEW press conference that the United States will impose a 25% tariff on Canada and Mexico on the 4th of this month, and said that there is no room for negotiation with these two allies. Trump also said on Monday that the United States will adopt "reciprocal tariffs" from April 2, and will also impose tariffs on countries that take measures to devalue their currencies. In addition, Trump said on social media that the United States will impose tariffs on "external" agricultural products from April 2. Concerns about the health of the economy have resurfaced, boosting market expectations for the Fed's rate cuts and increasing the appeal of gold.
Gold trading suggestions: Gold prices rose by $38 in the last trading session, mainly because US President Trump announced that the 25% tariffs on Mexico and Canada will officially take effect on Tuesday, and the planned reciprocal tariffs will also be implemented on April 2. This move not only made the financial market uneasy, but also triggered widespread global attention to the new economic barriers in North America, providing safe-haven support for gold prices.
From the 4-hour analysis, the upper short-term resistance is near 2930, and the lower support is around 2892. The daily level has not broken through and closed below this position before the market is bullish. The overall trend remains unchanged by relying on this range to maintain the main tone of low-multiple participation. In the middle position, watch more and move less, be cautious in chasing orders, and wait patiently for key points to enter the market.
BUY:2892near SL:2887
BUY:2900near SL:2895
BUY:2910near SL:2905
SELL:2930near SL:2935
Use small size to control risk
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💥Telegram Channel Free Updates 👉🏻
💥t.me/Actuary00group
✉️Signal and daily analysis channel
💥t.me/Actuary00group
✉️Signal and daily analysis channel
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.