Earlier this week, the international 
XAUUSD fell from $3,245/oz to $3,193/oz after US President Donald Trump exempted tariffs on 20 goods, including smartphones, laptops, hard drives, computer monitors and machinery used to produce semiconductors and chips. However, the US-China trade war became increasingly tense when Mr. Trump announced a tax of up to 245% on Chinese goods imported into the US, pushing the gold price to skyrocket to $3,357/oz, then adjusted down to $3,283/oz and closed the week at $3,327/oz.
Many experts believe that the unpredictable policy changes of the US President, as well as the risk of a global economic recession, especially Mr. Trump's threat to remove FED Chairman Powell...
May continue to support gold prices in the short term. In addition, the weakening of the USD has also been actively supporting the upward momentum of gold prices.
🕹SOME DATA THAT MAY AFFECT GOLD PRICES THIS WEEK:
There won’t be many important economic reports coming up next week, especially since markets will be closed on Monday for the Easter holiday.
On Wednesday, markets will get the preliminary S&P Global Composite PMI for April and new home sales data for March. On Thursday, a slew of important data will be released, including durable goods orders, weekly jobless claims and existing home sales. The weekend will close with the final report on the University of Michigan consumer sentiment index.
Markets will also be closely watching speeches from Neel Kashkari, Austan Goolsbee, Adriana Kugler and Patrick Harker, especially after notable comments from Fed Chair Jerome Powell on Wednesday.
📌Technically, gold is already deep in overbought territory, and a technical correction could be imminent before gold can move higher. Depending on the strength of the correction, gold could fall to $3,250/oz next week, followed by $3,150/oz, and then the psychological support of $3,000/oz. However, if $3,300/oz proves to be a solid support level, gold could soon break above $3,400/oz next week. It could even go as high as $3,500/oz if US-China trade tensions continue to escalate.
Notable technical levels are listed below.
Support: 3,304 – 3,300 – 3,261USD
Resistance: 3,338 – 3,372USD
SELL XAUUSD PRICE 3394 - 3392⚡️
↠↠ Stop Loss 3398
BUY XAUUSD PRICE 3243 - 3245⚡️
↠↠ Stop Loss 3239
XAUUSD fell from $3,245/oz to $3,193/oz after US President Donald Trump exempted tariffs on 20 goods, including smartphones, laptops, hard drives, computer monitors and machinery used to produce semiconductors and chips. However, the US-China trade war became increasingly tense when Mr. Trump announced a tax of up to 245% on Chinese goods imported into the US, pushing the gold price to skyrocket to $3,357/oz, then adjusted down to $3,283/oz and closed the week at $3,327/oz.Many experts believe that the unpredictable policy changes of the US President, as well as the risk of a global economic recession, especially Mr. Trump's threat to remove FED Chairman Powell...
May continue to support gold prices in the short term. In addition, the weakening of the USD has also been actively supporting the upward momentum of gold prices.
🕹SOME DATA THAT MAY AFFECT GOLD PRICES THIS WEEK:
There won’t be many important economic reports coming up next week, especially since markets will be closed on Monday for the Easter holiday.
On Wednesday, markets will get the preliminary S&P Global Composite PMI for April and new home sales data for March. On Thursday, a slew of important data will be released, including durable goods orders, weekly jobless claims and existing home sales. The weekend will close with the final report on the University of Michigan consumer sentiment index.
Markets will also be closely watching speeches from Neel Kashkari, Austan Goolsbee, Adriana Kugler and Patrick Harker, especially after notable comments from Fed Chair Jerome Powell on Wednesday.
📌Technically, gold is already deep in overbought territory, and a technical correction could be imminent before gold can move higher. Depending on the strength of the correction, gold could fall to $3,250/oz next week, followed by $3,150/oz, and then the psychological support of $3,000/oz. However, if $3,300/oz proves to be a solid support level, gold could soon break above $3,400/oz next week. It could even go as high as $3,500/oz if US-China trade tensions continue to escalate.
Notable technical levels are listed below.
Support: 3,304 – 3,300 – 3,261USD
Resistance: 3,338 – 3,372USD
SELL XAUUSD PRICE 3394 - 3392⚡️
↠↠ Stop Loss 3398
BUY XAUUSD PRICE 3243 - 3245⚡️
↠↠ Stop Loss 3239
Note
🔴Spot Gold Hits New HighGOLD SPOT continued to extend early Asian trading, surpassing previous highs and refreshing an all-time high of $3,359.38 per ounce, accumulating around $30 on the day, extending gains by 0.9%.
Note
Trade active
Weekly Plan SELL +85pips close a part move SL to entry.🔥Trade closed: target reached
Weekly Plan SELL +120pips🔽🔽🔽Note
🔴Gold Breaks Through $3,430, Pulls Up Over $100 On The DaySpot gold broke through the $3,430 per ounce price level and extended its record high, pulling up over $100 internally and accumulating nearly 10% this month.
Note
SPOT Gold briefly recovered and then moved lower again, now down 0.55% at $3,361.36 per ounce.
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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.
🔰| Forex trading
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
Related publications
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.