Macro:
- Gold prices have fallen since Trump's 'Liberation Day' tariff announcement, as global stock market pressure and hedge fund margin calls forced asset liquidations, including gold.
- Despite the short-term drop, gold remains a key medium-term hedge against recession risks and ongoing uncertainty once markets stabilize.
- High volatility may persist until tariff disputes are resolved and central banks clarify potential support measures.
Technical:
- XAUUSD fluctuates within the range of 2957-3055. The price is between both EMAs, indicating an intact sideways structure.
- If XAUUSD breaks below the support at 2957, the price may retest the following support at 2880.
- On the contrary, breaking above 3055 may lead to a record-high retest at around 3135.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
- Gold prices have fallen since Trump's 'Liberation Day' tariff announcement, as global stock market pressure and hedge fund margin calls forced asset liquidations, including gold.
- Despite the short-term drop, gold remains a key medium-term hedge against recession risks and ongoing uncertainty once markets stabilize.
- High volatility may persist until tariff disputes are resolved and central banks clarify potential support measures.
Technical:
- XAUUSD fluctuates within the range of 2957-3055. The price is between both EMAs, indicating an intact sideways structure.
- If XAUUSD breaks below the support at 2957, the price may retest the following support at 2880.
- On the contrary, breaking above 3055 may lead to a record-high retest at around 3135.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
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I’ve taken a break from my public community engagements to focus on raising my three kids, but I'm rediscovering my passion for working again. Stay connected, as I plan to return and rejoin my old communities with a lot of new skills one day soon.
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.