Fundamental Analysis
Persistent concerns over the potential economic impact of US President Donald Trump’s tit-for-tat tariffs could act as a catalyst for the safe-haven precious metal.
Meanwhile, risk-off sentiment, coupled with expectations that a tariff-induced slowdown in the US economy could force the Federal Reserve (Fed) to resume its rate-cutting cycle early, has caused a sharp decline in US Treasury yields. This, in turn, has pushed the US dollar (USD) to its lowest level since October 2024 and helped limit the downside in non-yielding gold. Therefore, it would be prudent to wait for a sharp sell-off to confirm that XAU/USD has topped out.
Technical Analysis
Today’s trading range is likely to see a fairly high probability of a drop. If it breaks 3116, gold will find its way back to 3081. In case gold breaks the downward structure as analyzed in the upward direction, pay attention to the SELL zone around 3148-3150. Wishing everyone a successful trading day.
Persistent concerns over the potential economic impact of US President Donald Trump’s tit-for-tat tariffs could act as a catalyst for the safe-haven precious metal.
Meanwhile, risk-off sentiment, coupled with expectations that a tariff-induced slowdown in the US economy could force the Federal Reserve (Fed) to resume its rate-cutting cycle early, has caused a sharp decline in US Treasury yields. This, in turn, has pushed the US dollar (USD) to its lowest level since October 2024 and helped limit the downside in non-yielding gold. Therefore, it would be prudent to wait for a sharp sell-off to confirm that XAU/USD has topped out.
Technical Analysis
Today’s trading range is likely to see a fairly high probability of a drop. If it breaks 3116, gold will find its way back to 3081. In case gold breaks the downward structure as analyzed in the upward direction, pay attention to the SELL zone around 3148-3150. Wishing everyone a successful trading day.
Trade active
FULL TP SELL SIGNALsTrade closed: target reached
amzaing.Gold turns south toward $3,100, all eyes on US NFP and PowellGold price returns to the red, eyeing $3,100 again in the Asian session on Friday after facing some profit-taking in the previous session. Escalating concerns over a global trade war and a US recession boost the Gold price, a traditional safe-haven asset. The focus now stays on the US NFP data and Powell's speech.
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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.