See also
Yesterday, gold prices reached a new historical high, and today they remain close to that level. Investors are concerned about the potential economic consequences of President Donald Trump's tariff policies, which—along with geopolitical tensions—continue to support demand for gold as a safe-haven asset. Expectations that Trump's protectionist policies could drive higher inflation are also increasing interest in hedging through precious metals.
On the other hand, the Federal Reserve's first pause since the start of its easing cycle in September, coupled with a relatively hawkish stance, has led to a slight rebound in U.S. Treasury yields. This provides support for the U.S. dollar, limiting further upward potential for gold prices. Traders should exercise caution and wait for the release of the U.S. PCE Price Index before making new decisions on XAU/USD.
A sustained rally and a breakout above the key $2,800 level could serve as a bullish trigger. However, the daily RSI is approaching overbought territory, suggesting that it may be prudent to wait for a short-term consolidation or a moderate pullback before entering new long positions.
In case of a correction, support is expected in the $2,773–$2,772 zone, with additional support at $2,757–$2,756. A break below this area could lead to a deeper decline, potentially towards $2,740 and key structural support at $2,725–$2,720. A decisive drop below this range could set the stage for a more significant downside move in the near term.
You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
E-mail/SMS
notifications
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.