Updated

Targeting a new era peak, risks blanket the market

XAUUSD hit another all-time high as U.S. President Donald Trump's threat of tariffs increased market fears of a global trade war, boosting safe-haven demand.

Trump's tariff policy and global market reaction
Trump said on Wednesday that he would announce new tariffs on lumber, autos, semiconductors and pharmaceuticals "next month or sooner."
Since taking office on January 20, Trump has imposed a 10% tariff on imports from China and a 25% tariff on steel and aluminum.
As trade risks increase, global central banks are likely to continue buying gold, which is one of the key supporting factors for gold prices.

Ukraine situation and the possibility of gold correction in the short term
Trump also criticized Ukrainian President Volodymyr Zelenskiy as a "dictator" on Wednesday and warned that Ukraine must quickly reach a peace deal with Russia or lose the country.
If a peace agreement between Russia and Ukraine is reached, geopolitical tensions could temporarily ease in the short term, which could put pressure on gold prices. However, gold still has enough fundamental support and the long-term uptrend could continue.

Fed policy and Swiss gold exports soar
Minutes of the Federal Reserve's latest monetary policy meeting released Wednesday showed that Trump's early economic policies have raised concerns about rising inflation. This reinforces the Fed's stance on maintaining the current interest rate policy.
According to foreign media, Swiss customs data showed that Swiss gold exports increased significantly year-on-year in January, with gold exports to the United States reaching their highest level in at least 13 years.

GOLD steadies at high levels despite FOMC looks tough

Analysis of technical prospects for XAUUSD
On the daily chart, after gold reached the target level of 2,946 USD, readers noted in the previous issue that the price point of the Fibonacci extension was 0.382%, it broke this level to renew its all-time high.

With the current position, if gold takes price action above the 0.382% Fibonacci extension level once again, it will have conditions to continue to increase with a target then around 2,971 USD in the short term, more than 2,996 – 3,000 USD.

The relative strength index also does not indicate any possibility of a downward correction in terms of momentum.
During the day, the short-term uptrend of gold prices will be noticed by trend, and as long as gold remains in the price channel, it still has a main bullish outlook, declines should only be considered as short-term corrections or a buying opportunity.

Notable locations will also be noticed again as follows.
Support: 2,922 – 2,915USD
Resistance: 2,954 – 2,971 – 2,996USD

SELL XAUUSD PRICE 2971 - 2969⚡️
↠↠ Stoploss 2975

→Take Profit 1 2963
↨
→Take Profit 2 2957

BUY XAUUSD PRICE 2909 - 2911⚡️
↠↠ Stoploss 2905

→Take Profit 1 2917
↨
→Take Profit 2 2923

Note

🔴 Gold prices are rising rapidly and are currently trading at $2,938 after US PMI economic data fell sharply short of expectations.

Note

♦️ Spot gold price fell below 2,930 USD/ounce, down 0.77% on the day.

Trade active

Plan BUY +50pips close a part move SL to entry.🔥

Note

🔴 Spot gold prices fell $60 on the day after the US consumer confidence index in February recorded its biggest monthly decline in more than three years.
In addition, gold prices broke out of the uptrend channel that lasted nearly 2 months.

Note

Gold prices fell in the afternoon session of February 25 as investors took profits after reaching a record high due to concerns that US President Donald Trump's plans to impose taxes could increase inflation and cause a global trade war.

Note

♦️ Spot gold price fell below 2,910 USD/ounce, down 0.18% on the day.

Note

Spot gold prices fell more than $6 in the short term, to below $2,900 an ounce, for a daily decline of 0.52%.

Note

🔴The threat of tariffs supports gold's safe-haven nature
On February 26, gold prices recovered as risk aversion spread again in the market.

Note

🔴Spot gold price decreased 1.00% during the day and is currently trading at 2,887.04 USD an ounce.

Note

🔴The world's largest gold ETF, SPDR Gold Trust, saw its gold holdings decrease by 0.86 tons from the previous day and its current gold holdings are 906.1 tons.

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