Gaza conflict and Trump tariffs push GOLD higher again

7 days ago

XAUUSD rose more than 1% on Tuesday to a new record high and are currently trading around $3,035/oz, close to yesterday's peak. Trade uncertainty due to rising tensions in the Middle East and US President Trump's tariff plans have boosted investor demand for safe-haven assets.

Israeli airstrikes kill more than 400 in Gaza
Early Tuesday morning local time, the Israeli military carried out heavy airstrikes on Gaza City in the northern Gaza Strip, Deir el Balah, the Nusayrat refugee camp in the central Gaza Strip, as well as Khan Yunis and Rafah in the south.
The British news agency Reuters reported that Israeli airstrikes killed more than 400 people in Gaza, threatening a two-month ceasefire.
Israeli Prime Minister Benjamin Netanyahu said the airstrikes were carried out because Hamas has repeatedly refused to release Israeli detainees. Defense Minister Israel Katz warned that if Hamas does not release the detainees, "our attacks will intensify."

Hamas said Israel's move was a unilateral end to the ceasefire, leaving Israelis held in Gaza "to face an unknown fate."

There were unconfirmed reports that an Iranian vessel collecting intelligence during the Gaza offensive was sunk by US forces, escalating tensions in the Middle East.
Saudi media reported on Tuesday that the Iranian Navy's most advanced intelligence ship, the Zagros, was hit by an unidentified missile in the Red Sea on Monday evening local time, causing its hull to be damaged, leaking and sinking.
World Media reported that the US military was then attacking Houthi armed forces in the area outside the Red Sea, while the Israel Defense Forces conducted a large-scale bombing of Gaza, and the origin of the missile that hit the Iranian naval vessel could not be determined.

Trump's Tariffs
Meanwhile, US President Trump has proposed a series of US tariff plans, including a 25% flat tariff on steel and aluminum (which took effect in February), as well as reciprocal tariffs and sectoral tariffs that will be applied on April 2.

Trump said he would impose general reciprocal tariffs on April 2, with additional tariffs targeting specific industries. Trump told reporters on Air Force One on Sunday that both tariffs would be applied to foreign goods imported into the United States “under certain circumstances,” “They tax us, we tax them, and then we’ll tax other industries beyond autos, steel, aluminum.”

Ultimately, Gold is often considered a safe investment in times of economic or geopolitical uncertainty, and in the current environment, it is still fundamentally well supported.
There are also many other supports such as demand from central banks, national reserves, and ETF volumes, the decline of the Dollar, the Fed's monetary policy, etc. Readers can review previous publications for more information.

Technical outlook analysis of XAUUSD
On the daily chart, although the RSI is operating in the overbought area, it has not shown any signal to indicate a significant downside correction. A signal for a correction is a crossover of the RSI below 80.

Meanwhile, the sustained price action above the 0.50% Fibonacci extension level is a positive signal with the expectation of further upside and the next target is the 0.618% Fibonacci extension position at the price point of $3,065.

Currently, there is no notable resistance ahead, so until the level of 3,065 USD gold can still rise freely.

The intraday uptrend of gold will be noticed again by the following notable positions.
Support: 3,021 – 3,000 USD
Resistance: 3,065 USD

SELL XAUUSD PRICE 3068 - 3066⚡️
↠↠ Stoploss 3072

→Take Profit 1 3060
↨
→Take Profit 2 3054

BUY XAUUSD PRICE 2984 - 2986⚡️
↠↠ Stoploss 2980

→Take Profit 1 2992
↨
→Take Profit 2 2998

6 days ago

Note

💡Gold Price Hits Record High of Due to Geopolitical Tensions

6 days ago

Note

GOLD at absolute fundamental support but RSI overbought

6 days ago

Note

⚫The gold price outlook remains positive, with further upside potential towards $3,100/oz, while key support levels lie at $3,000/oz and $2,954/oz.

5 days ago

Note

💰 For the first time in history, the global gold market capitalization surpassed the $20 trillion mark, reaching $20.8 trillion on March 14, 2025.

2 days ago

Note

⚫Gold prices stabilized around $3,022 an ounce after falling slightly two days earlier, reflecting strong safe-haven demand due to economic and geopolitical uncertainty.

yesterday

Note

⚫Trump and Musk questioned the gold reserves at Fort Knox, raising concerns similar to the conspiracy theories of the 1970s, when the US left the gold standard.

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