Gold prices briefly fell to a four-week low of $2,971/ounce in the Asian session on Monday before rebounding, hitting an intraday high of $3,055. However, the rebound lacked follow-up buying support, showing that market sentiment is still fragile.
Analysis of geopolitical factors:
Although the US non-farm payrolls increased by 228,000 in March, far exceeding expectations, the market's expectations for the Fed to cut interest rates four times this year remain strong. Trump's tariff policy may have a stronger impact on inflation and economic growth; the 10-year US Treasury yield continued to be below 4.0%, suppressing the rise of the US dollar; Powell pointed out: The risk of strong inflation caused by tariffs cannot be ruled out, and the Fed will continue to pay attention to policy uncertainty. Trump reiterated that he would not reach an agreement with Asian countries unless the US trade deficit was resolved. "The escalating trade tensions have triggered concerns about a global recession, boosting demand for gold as a safe haven, but investors are also selling precious metals to cash in losses in other markets.
Short-term technical analysis of gold:
Last week, gold prices fell from their all-time highs and are currently close to the 61.8% retracement level of $2,971; the current rebound to $3,055 is blocked, which is the key resistance transformed from the previous support level; if the gold price stabilizes above $3,055, it may usher in a new round of upward momentum; it is expected to test $3,078 or even $3,094; on the contrary, once the $3,000 mark is lost, the market bears may regain dominance, and the gold price is expected to further drop to $2,946 or even $2,912.
In the next few days, US economic data, comments from Fed officials and geopolitical changes will still be key factors affecting gold prices. Against the backdrop of unclear Fed policies and escalating global trade concerns, gold prices may continue to fluctuate.
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XAUUSD GOLD GOLD XAUUSD XAUUSD XAUUSD
Analysis of geopolitical factors:
Although the US non-farm payrolls increased by 228,000 in March, far exceeding expectations, the market's expectations for the Fed to cut interest rates four times this year remain strong. Trump's tariff policy may have a stronger impact on inflation and economic growth; the 10-year US Treasury yield continued to be below 4.0%, suppressing the rise of the US dollar; Powell pointed out: The risk of strong inflation caused by tariffs cannot be ruled out, and the Fed will continue to pay attention to policy uncertainty. Trump reiterated that he would not reach an agreement with Asian countries unless the US trade deficit was resolved. "The escalating trade tensions have triggered concerns about a global recession, boosting demand for gold as a safe haven, but investors are also selling precious metals to cash in losses in other markets.
Short-term technical analysis of gold:
Last week, gold prices fell from their all-time highs and are currently close to the 61.8% retracement level of $2,971; the current rebound to $3,055 is blocked, which is the key resistance transformed from the previous support level; if the gold price stabilizes above $3,055, it may usher in a new round of upward momentum; it is expected to test $3,078 or even $3,094; on the contrary, once the $3,000 mark is lost, the market bears may regain dominance, and the gold price is expected to further drop to $2,946 or even $2,912.
In the next few days, US economic data, comments from Fed officials and geopolitical changes will still be key factors affecting gold prices. Against the backdrop of unclear Fed policies and escalating global trade concerns, gold prices may continue to fluctuate.
If your trading is bad and you want to recover your losses
If you don't know when to enter the market, your trading has been bad, join my exclusive VIP. Follow the real-time and accurate signals every day to follow the Baker Bitcoin Gold Trading Center or leave me a message. Let's go to victory together.
XAUUSD GOLD GOLD XAUUSD XAUUSD XAUUSD 
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✔Copy accurate trading signals✔Manage accounts🎁Stable profit of more than 210.8% per week🎁Success rate is as high as 98.55%, real-time communication: t.me/cryptoanalyst_baker
Signal entry: t.me/FcCygjylf
Signal entry: t.me/FcCygjylf
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.