⭐️Fundamental Analysis
Gold prices (XAU/USD) have stalled after two days of gains due to rising US bond yields, putting pressure on non-yielding gold. However, gold may be supported by safe-haven demand amid escalating trade tensions.
Specifically, the US imposed a 25% tariff on imports from Mexico and Canada, while China also increased tariffs to 20%, raising concerns about trade retaliation. At the same time, the US's suspension of military aid to Ukraine also prompted investors to seek gold. In addition, the situation became more tense when President Donald Trump and Ukrainian President Zelenskyy disagreed on peace negotiations.
⭐️Technical Analysis
It is clear that gold is rising and heading towards the resistance level of 2929. This is considered a key area for gold. If broken, gold will continue to increase in price to ATH 295x. If Gold breaks the trend and falls, 2903 will no longer be meaningful and it will be at the 2896 area that Gold will really have a price reaction.
Gold prices (XAU/USD) have stalled after two days of gains due to rising US bond yields, putting pressure on non-yielding gold. However, gold may be supported by safe-haven demand amid escalating trade tensions.
Specifically, the US imposed a 25% tariff on imports from Mexico and Canada, while China also increased tariffs to 20%, raising concerns about trade retaliation. At the same time, the US's suspension of military aid to Ukraine also prompted investors to seek gold. In addition, the situation became more tense when President Donald Trump and Ukrainian President Zelenskyy disagreed on peace negotiations.
⭐️Technical Analysis
It is clear that gold is rising and heading towards the resistance level of 2929. This is considered a key area for gold. If broken, gold will continue to increase in price to ATH 295x. If Gold breaks the trend and falls, 2903 will no longer be meaningful and it will be at the 2896 area that Gold will really have a price reaction.
Trade active
Gold price consolidates its weekly gains; bullish bias remainsGold price oscillates below a one-week high touched on Wednesday and remains well supported by worries about the potential economic fallout from Trump's trade tariffs and a global trade war. Meanwhile, the recent softer US macro data lifted bets for further policy easing by the Fed, dragging the USD and benefiting the yellow metal.
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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.
JOIN OUR FREE TELEGRAM GROUP t.me/+HARBQ2pBFaI5ZjI1
MESSAGE US FOR VIP SIGNALS🏆 t.me/Leilani8597
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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.