Gold Extends Gains as Trade War Fears Mount
Gold climbed above $2,900 per ounce, extending its gains for a second day as fears of a global trade war fueled demand. Concerns over President Donald Trump’s proposed reciprocal tariffs added to market uncertainty, increasing gold’s appeal. However, hawkish Fed comments capped further gains.
Fed Governor Michelle Bowman reiterated caution on rate cuts due to inflation risks, while Governor Christopher Waller suggested delaying reductions until inflation eases. Investors now await Wednesday’s Fed meeting minutes for more policy insights. Meanwhile, geopolitical tensions persist as markets watch for updates on a potential Russia-Ukraine ceasefire.
Key resistance levels are at $2,949, $2,975, and $3,000. Support is at $2,880, with further levels at $2,830 and $2,760.
Fed Governor Michelle Bowman reiterated caution on rate cuts due to inflation risks, while Governor Christopher Waller suggested delaying reductions until inflation eases. Investors now await Wednesday’s Fed meeting minutes for more policy insights. Meanwhile, geopolitical tensions persist as markets watch for updates on a potential Russia-Ukraine ceasefire.
Key resistance levels are at $2,949, $2,975, and $3,000. Support is at $2,880, with further levels at $2,830 and $2,760.
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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.