Gold hovered near a record $3,050, supported by Fed rate cut expectations and safe-haven demand. The Fed reaffirmed plans for 50 bps cuts this year amid rising economic uncertainty, driving gold.
Middle East tensions escalated as Israel resumed ground operations in Gaza after an airstrike ended a two-month ceasefire. The US continued strikes on Houthi targets, with Trump warning Iran over future incidents.
Trade concerns persisted ahead of new tariffs in April, following the US’s 25% duty on steel and aluminum in February.
Key resistance stands at $3082, with further levels at $3100 and $3,150. Support is at $3000, followed by $2,980 and $2,916.
Middle East tensions escalated as Israel resumed ground operations in Gaza after an airstrike ended a two-month ceasefire. The US continued strikes on Houthi targets, with Trump warning Iran over future incidents.
Trade concerns persisted ahead of new tariffs in April, following the US’s 25% duty on steel and aluminum in February.
Key resistance stands at $3082, with further levels at $3100 and $3,150. Support is at $3000, followed by $2,980 and $2,916.
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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.