Gold 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.
Key resistance is at $3,250, followed by $3,300 and $3,350. Support stands at $3165, then $3135 and $3090.
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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.