Mrsam36

Mrsam36 Updated 

Near-term action so far looks as consolidation ahead of fresh push higher after bullish stance was reinforced by weekly close above $3000. Technical studies remain firmly bullish on daily chart, though overbought conditions may keep the price in prolonged consolidation, with potential dips below $3000 not ruled out

Mrsam36 Updated 

Gold has been in an uptrend since the beginning of March, and the rally accelerated as gold hit new highs at the end of last week, when the spot price hit a new record of $3057. We see this breakout as the start of a new expansionary momentum with an upside potential of $3180/oz, which represents 161.8% of the upside momentum from the start of the year to the February peak

Mrsam36 Updated 

that the US central bank will resume its rate-cutting cycle sooner than expected amid worries about a tariff-drive slowdown. This could act as a headwind for the USD and lend support to the non-yielding Gold price. Apart from this, the uncertainty over US President Donald Trump's trade policies and geopolitical risk should help limit any meaningful corrective fall...

Mrsam36 Updated 

Regarding technical levels, the new all-time high at $3,057 is the first level to beat. The next target for this Thursday is the R1 resistance at $3,058, just below the $3,060 round number. If the last one is broken, then R2 resistance comes in at $3,069.  On the downside, the intraday Pivot Point at $3,040 is the first line of defense, followed by the S1 support...

Mrsam36 Updated 

XAU/USD reached a fresh all-time high of $3,038.33 on Tuesday, trading nearby in the mid-American session. The bright metal benefited from mounting geopolitical jitters on different fronts. On the one hand, Israeli Prime Minister Benjamin Netanyahu accused Hamas of breaking the peace agreement by refusing to release hostages and resuming attacks on Gaza, reviving...

Mrsam36 Updated 

Trump announced on Tuesday that he would impose an additional 25% tariff, on top of the previously announced 25%, on steel and aluminum imports from Canada. In response, Ontario Premier Doug Ford said that they would place a 25% surcharge on the electricity they supply to more than one million homes in the US. Trump backed off following this development and the...

Mrsam36

Gold’s price (XAU/USD) surges again and reaches a fresh all-time high currently at $3,028 on Tuesday. The precious metal trades around $3,021 at the time of writing. The rise comes after Israel executed military operations on possible Hamas tactical positions and buildings. The move is seen as the end of the ceasefire deal, which started in January and is likely...

Mrsam36 Updated 

Spot Gold consolidates just below $3,000 a troy ounce on Monday, recovering the ground shed on Friday. A better market mood weighs on the US Dollar (USD), yet that same positive mood maintains Gold’s gains limited. Exacerbating range trading, the United States (US) Federal Reserve (Fed) is set to announce its decision on monetary policy next Wednesday

Mrsam36 Updated 

Gold continues to correct lower amid the selloff in the US stock market as it tightens financial conditions when it’s this aggressive. The problem here is that we got weaker economic data with increasing inflation expectations. The market might be fearing that in case we get a slowdown, the Fed might not be fast enough in cutting rates amid inflation remaining...

Mrsam36 Updated 

Trump announced on Tuesday that he would impose an additional 25% tariff, on top of the previously announced 25%, on steel and aluminum imports from Canada. In response, Ontario Premier Doug Ford said that they would place a 25% surcharge on the electricity they supply to more than one million homes in the US. Trump backed off following this development and the...

Mrsam36 Updated 

Gold prices retreat after hitting a record high, surpassing $3,000, as traders remain uncertain about US President Donald Trump's trade policies. This and the weakness of the US Dollar drove the precious metal to reach an all-time high of $3,004 a troy ounce before retreating to $2,982, losing 0.21% in the day. Geopolitics are also impacting Gold’s demand. The...

Mrsam36 Updated 

Gold prices (XAU/USD) advanced for a third consecutive day on Thursday, soaring to all-time highs past the $2,980 mark per troy ounce and setting the stage for a potential test of the psychological $3,000 threshold. The precious metal’s steady climb has entered its second straight week, with gold posting gains in the first three months of the new year. Looking at...

Mrsam36 Updated 

Gold trades with a positive tone on Tuesday, pressuring the upper end of its recent range, as the US Dollar (USD) remains vulnerable due to United States (US) President Donald Trump’s tariffs. Trump embarked on a trade war in the first days of his mandate, spurring concerns about a potential US economic slowdown. Since then, Trump kept escalating tensions,...

Mrsam36 Updated 

Fears of an economic downturn intensified after President Donald Trump referred to the current situation as a “period of transition” in an interview with Fox News, implying that current policies may lead to a recession. Meanwhile, trade tensions remain elevated. The US had recently delayed imposing a 25% tariff on select Canadian and Mexican goods for a month...

Mrsam36 Updated 

Spot Gold trades with a softer tone on Monday, piercing the $2,900 mark during American trading hours, albeit confined to familiar levels for a fifth consecutive day. The US Dollar (USD) found near-term demand despite a risk-averse environment. Global stock markets trade in the red at the beginning of the week maintaining the focus on United States (US) President...

Mrsam36 Updated 

Spot Gold trades with a softer tone on Monday, piercing the $2,900 mark during American trading hours, albeit confined to familiar levels for a fifth consecutive day. The US Dollar (USD) found near-term demand despite a risk-averse environment. Global stock markets trade in the red at the beginning of the week, maintaining the focus on United States (US) President...

Mrsam36 Updated 

On the flip side, if gold manages to cross above the nearby resistance of 2,920, bullish forces could initially pause near the top of 2,954 before aiming for a fresh all-time high near 2,980 Beyond that, the rally might extend toward the key trendline region of 3,025-3,050

Mrsam36 Updated 

Gold continues to correct lower amid the selloff in the US stock market as it tightens financial conditions when it’s this aggressive. The problem here is that we got weaker economic data with increasing inflation expectations. The market might be fearing that in case we get a slowdown, the Fed might not be fast enough in cutting rates amid inflation remaining...