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Gold Climbs on Safe-Haven DemandGold climbed to nearly $3,360 per ounce on Tuesday, marking its highest level in over a week, as renewed tariff threats from President Trump increased safe-haven demand. Trump announced a 100% tariff on foreign films and signaled upcoming measures targeting pharmaceuticals. Investors are now focused on the Federal Reserve’s policy decision, with rates expected to stay unchanged despite Trump’s push for cuts. Resistance is expected at $3,385, then $3,450 and $3,500. Support stands at $3,300, followed by $3,265 and $3,200.
EIGHTCAP:XAUUSD
by ChartMage
Euro Pressured Ahead of Fed DecisionThe euro is trading around $1.1315 on Tuesday, pressured by a stronger U.S. dollar ahead of the Federal Reserve’s policy decision, where rates are expected to remain unchanged. However, the dollar still faces headwinds from doubts over its safe-haven appeal and President Trump’s unpredictable tariff stance. A dovish Fed or continued skepticism toward the dollar may limit euro losses. Resistance levels are seen at 1.1460, then 1.1580 and 1.1680, while support rests at 1.1260, followed by 1.1200 and 1.1150.
by ChartMage
Yen Slips Toward 144 on Stronger DollarThe Japanese yen edged lower toward 144 per dollar on Tuesday, as the U.S. dollar strengthened amid optimism over potential U.S.-China trade talks and investor caution ahead of the Federal Reserve’s policy decision. President Trump suggested a possible reduction in tariffs on Chinese goods. Meanwhile, the Bank of Japan held rates steady but revised its growth and inflation outlook. Trading activity remained subdued due to a public holiday in Japan. Resistance is located at 145.90, followed by 146.75 and 149.80. On the downside, support levels are at 139.70, then 137.00 and 135.00.
by ChartMage
Silver Slips on Trade Optimism and Weak Economic Data Silver prices dropped over 1% on Thursday, slipping to around $32 per ounce, dragged by reduced safe-haven demand following Trump's optimistic remarks on potential trade deals with China, India, Japan, and South Korea. Weak economic data further pressured prices, with the U.S. economy contracting by 0.3% and China’s manufacturing PMI falling to a 16-month low, raising concerns about industrial demand. Today, silver is showing signs of recovery amid improved risk appetite, with the market focus on the $34.90–$35.00 resistance zone as a key technical level. Narrow Range: $31.30 – $33.70 Wide Range: $28.50 – $34.90/35.00
FOREXCOM:XAGUSD
by ChartMage
GBP Gains as Tariff Risk Stays LowThe British pound rose to $1.332, near its highest level since February 2022, supported by a weaker U.S. dollar. Sterling gained 3.2% in April, its best month since November 2023. The UK is seen as less exposed to U.S. tariffs, which President Trump has delayed until July. In 2024, the U.S. ran a $12 billion goods surplus with the UK, unlike its deficits with China and the EU, reducing trade risk. The pound also benefits from expectations that the Bank of England will be more cautious than others in cutting rates. Markets expect about 85 basis points of easing this year, which is in line with the Fed. Investors now await key U.S. jobs and inflation data for dollar direction. If GBP/USD breaks above 1.3430, the next resistance levels are 1.3500 and 1.3550. Support levels are at 1.3200, followed by 1.3050 and 1.2960.
by ChartMage
Yen Near 146 as Trade Hopes WeighThe yen hovered near 146 per dollar Friday after a 1.6% drop, pressured by weaker safe-haven demand amid improving US-China trade prospects. China is open to talks after repeated U.S. outreach, while Japan and the U.S. wrapped up a second round of bilateral talks, aiming for a June deal. Domestically, Japan’s jobless rate rose to 2.5% in March, but the labor market stayed tight. The Bank of Japan held rates at 0.5% and cut its growth and inflation outlooks, signaling limited chances of near-term hikes. Resistance is located at 145.90, followed by 146.75 and 149.80. On the downside, support levels are at 139.70, then 137.00 and 135.00.
by ChartMage
Gold Retreats as Investors Eye Key Economic DataGold fell below $3,330 per ounce on Tuesday as investors monitored tariff talks and awaited key economic data. Treasury Secretary Scott Bessent said many top U.S. trading partners made "very good" tariff proposals and noted China’s tariff exemptions signal de-escalation efforts. He stressed it is now up to China to act. A modest rebound in the U.S. dollar also pressured gold. Markets are focused on upcoming reports, including Q1 GDP, March PCE inflation, and April nonfarm payrolls, for clues on the economy and Fed policy. Key resistance is at $3365, followed by $3,405 and $3,500. Support stands at $3250, then $3165 and $3050.
EIGHTCAP:XAUUSD
by ChartMage
Silver Holds Ground on Mixed Trade SignalsSilver is trading around $33.50 on Friday morning, continuing to show greater sensitivity to macroeconomic shifts and trade news due to its dual role as both a precious and industrial metal. Recent price movements were shaped by mixed signals in U.S.-China trade relations. Although the Trump administration reportedly considered tariff reductions, Treasury Secretary Scott Bessent clarified that no formal proposals have been made and negotiations have not yet begun. Technically, silver faces initial resistance at $33.80, with further levels at $34.20 and $34.85 if the upward move continues. On the downside, immediate support is seen at $33.15, followed by $31.40 and $30.20 if further weakness occurs.
FOREXCOM:XAGUSD
by ChartMage
Sterling Keeps Flat Amid Trade WatchThe British pound held steady near 1.3290 on Friday morning, maintaining levels seen in the previous session. The currency remained flat in recent days, supported by optimistic comments from Donald Trump and largely neutral PMI data. Upcoming economic releases and developments in the US-China trade dispute are expected to play a key role in shaping the pair’s direction next week. If GBP/USD breaks above 1.3430, resistance levels are at 1.3500 and 1.3550. Support is at 1.3200, followed by 1.3050 and 1.2960.
by ChartMage
XAG/USD Climbs on FOMC WorriesSilver prices climbed above $31 per ounce on Thursday, extending gains for a second straight session as commodities rebounded following President Trump’s rollback of his reciprocal tariff policy. The new measure lowers tariffs on most trade partners to 10% for 90 days to support negotiations. However, China, a key silver consumer, still faces a steep 125% tariff, keeping geopolitical tensions elevated and sustaining safe-haven demand. Meanwhile, FOMC minutes revealed growing concerns about stagflation and the impact of Trump’s trade agenda on the Fed’s dual mandate of price stability and full employment. Resistance starts at 31.50; if breached, the next levels are 32.15 and 33.30. Support sits at 30.20, with 29.50 and 29.20 below if that level gives way.
FOREXCOM:XAGUSD
by ChartMage
Gold Surges, Hits Record Above $3,200Gold spiked to a new record above $3,200 per ounce on Friday, driven by safe-haven demand and a weakening dollar amid intensifying U.S.-China trade tensions. The U.S. hiked tariffs on China to 145%, while easing duties for other partners. At the same time, U.S. consumer prices unexpectedly fell in March, fueling bets on a Fed rate cut in June and a full percentage point cut by year-end. Despite this, inflation risks remain due to ongoing tariff pressure. Gold is set for its strongest weekly gain since November. Key resistance is at $3,250, followed by $3,300 and $3,350. Support stands at $3165, then $3135 and $3090.
EIGHTCAP:XAUUSD
by ChartMage
EU Tariff Relief Drives Euro Above $1.13The euro climbed above $1.13, its highest since September 2024, after the EU suspended new U.S. tariffs for 90 days to allow trade talks. This followed President Trump’s move to cut tariffs to 10% for non-retaliating countries while raising Chinese duties to 125%. While easing global slowdown fears, the mixed signals fueled uncertainty. Money markets adjusted ECB expectations, pricing the deposit rate at 1.8% by December, up from 1.65%, and lowered the probability of an April cut to 90%. Key resistance is at 1.1390, followed by 1.1425 and 1.1500. Support lies at 1.1260, then 1.1180, and 1.1100.
by ChartMage
Silver Remains Volatile Amid Trade War and Recession FearsSilver stayed above $30.50 per ounce on strong safe-haven demand amid U.S.-China trade tensions. Prices held a 3.5% gain after President Trump announced a 90-day tariff pause and a 10% rate for all but China, which now faces a 125% tariff. China raised tariffs on U.S. goods to 84%, and the EU approved duties on €21 billion of American exports. Fed minutes showed concerns about stagflation and the impact of Trump’s trade policies. Markets now await March U.S. inflation data on Thursday for clues on the Fed’s next move. Technically, the first resistance level is located at 31.50. In case of its breach 32.15 and 33.30 could be monitored respectively. On the downside, the first support is at 30.20. 29.50 and 29.20 would become the next support levels if this level is passed.
FOREXCOM:XAGUSD
by ChartMage
Gold Jumps 3% on U.S.-China Tariff BattleGold jumped over 3% to above $3,095 per ounce on Wednesday as U.S.-China trade tensions escalated. President Trump announced a 90-day tariff pause and a reduced 10% rate for all but China, which now faces a 125% tariff. Treasury Secretary Bessent said the lower rate would apply during talks, excluding China and some sectors. In response, China raised tariffs on U.S. goods to 84%, and the EU approved levies on €21 billion worth of American exports. Fed minutes showed policymakers expect higher inflation from tariffs but remain uncertain about its scale and duration. Supporting gold’s rally further, the World Gold Council reported that gold-backed ETFs attracted 226.5 metric tons in inflows during Q1, totaling $21.1 billion in value. Key resistance is at $3,135, followed by $3,165 and $3,200. Support stands at $3030, then $3010 and $2956.
EIGHTCAP:XAUUSD
by ChartMage
Yen Appreciates with Trade TurmoilThe Japanese yen rose above 146 per dollar on Wednesday, extending gains as Trump's looming tariffs drove safe-haven flows. The dollar weakened on recession fears tied to escalating trade tensions and potential Fed rate cuts. New U.S. tariffs include a 24% duty on Japanese goods and a 25% car import levy. Trump confirmed that Japan will send a delegation to renegotiate terms, while PM Ishiba urged a policy rethink. Domestically, Japan's current account surplus hit a record in February, supported by strong exports and reduced imports, boosting the yen further. Key resistance is at 148.70, with further levels at 152.70 and 157.70. Support stands at 145.60, followed by 143.00 and 141.80.
by ChartMage
Silver Holds Ground as Markets Eye Fed CutsSilver hovered around $30 per ounce on Monday, staying volatile as markets reacted to Trump’s escalating trade war. The metal dropped 16% over three sessions as recession fears sparked a broad selloff, with traders liquidating metals to cover losses. China retaliated with tariffs after the US imposed levies on all countries, with others expected to follow. Trump’s tariffs excluded copper, gold, energy, and certain minerals. Despite the slump, silver may regain support as markets bet on more Fed rate cuts this year. Technically first resistance level is located at 30.90. In case of its breach 31.40 and 32.50 could be monitored respectively. On the downside, the first support is at 29.00. 28.40 and 27.50 would become the next support levels if this level is passed.
FOREXCOM:XAGUSD
by ChartMage
Gold Jumps on Fresh Trade War WorriesGold rose above $2,995/oz on Tuesday, rebounding from a 4-week low as trade war fears fueled haven demand. Trump threatened a 50% duty on China starting Wednesday unless it drops its 34% tariffs, while the EU proposed 25% counter-tariffs on U.S. goods. Markets await Fed minutes (Wed), CPI (Thu), and PPI (Fri) for policy clues. Despite recent losses, gold is still up over 14% YTD. Key resistance is at $3,050, followed by $3,085 and $3,105. Support stands at $2,956, then $2,930 and $2830.
EIGHTCAP:XAUUSD
by ChartMage
Euro Firms as U.S.-China-EU Trade Rift WidensThe euro hovered near $1.10, its highest since October 2024, as the dollar weakened and trade tensions escalated. China plans to impose 34% tariffs on all U.S. goods from April 10, following Trump’s 10% tariff on all imports, including 20% on EU and 34% on Chinese goods. France urged firms to halt U.S. investments, and the EU is preparing countermeasures. Markets now price in a 90% chance of an ECB rate cut in April, with the deposit rate seen falling to 1.65% by December from 2.5%. Key resistance is at 1.1100, followed by 1.1150 and 1.1215. Support lies at 1.0900, then 1.0850 and 1.0730.
by ChartMage
Yen Climbs on Trade Talks, Record SurplusThe Japanese yen climbed toward 147 per dollar on Tuesday, reversing losses as trade uncertainty lifted safe-haven demand. Trump agreed to begin trade talks with Japan after speaking with PM Shigeru Ishiba and Treasury Secretary Scott Bessent to lead talks covering tariffs, currency, and subsidies. Trump denied delaying tariffs, saying they may stay indefinitely. Domestically, Japan’s current account surplus hit a record high in February, backed by strong exports and lower imports, further supporting the yen. Key resistance is at 148.70, with further levels at 152.70 and 157.70. Support stands at 145.60, followed by 143.00 and 141.80.
by ChartMage
Silver Rebounds Sharply on Risk AversionSilver rebounded Monday, rising 2.3% to $30.22 an ounce after hitting a seven-month low. The recovery followed sharp market volatility and recession fears from rising U.S.-China trade tensions. While silver benefits from safe-haven demand, its industrial use remains a weakness. Broader market sell-offs could keep price action choppy, but intensified risk aversion and Fed easing could support silver demand. If silver breaks above $30.90, resistance levels are at $31.40 and $32.50. Support stands at $29.00, followed by $28.40 and $27.50.
FOREXCOM:XAGUSD
by ChartMage
Gold Stabilizes Near 3-Week LowGold steadied around $3,030 per ounce on Monday after falling over 1% to a three-week low. The drop sparked speculation that investors were taking profits or covering losses amid broader market declines driven by recession fears from escalating trade tensions. Fed Chair Jerome Powell warned that tariffs could raise inflation and slow growth, underscoring challenges for policymakers. Key resistance is at $3,050, followed by $3,085 and $3,105. Support stands at $2,980, then $2,930 and $2830.
EIGHTCAP:XAUUSD
by ChartMage