Gold and silver prices posted strong gains on safe-haven demand amid escalating geopolitical tensions, with the US dollar index falling sharply as the trading week began.
Market risk appetite was heightened at the start of the week, following a tense meeting on Friday between US President Donald Trump and Ukrainian President Volodymyr Zelensky, which raised concerns about US-Ukraine relations and the prospects of a ceasefire between Ukraine and Russia.
Meanwhile, US trade tariffs on Mexico, Canada and China are set to take effect on Tuesday. Gold prices started the week on a strong note after posting its worst weekly performance in three months.
For April gold futures, the bulls still have the upper hand in the short term, but the uptrend on the daily chart has been temporarily invalidated. The next target for the bulls is to close above solid resistance at the contract high of $2,974/oz.
Meanwhile, the bears' target is to push the price below the key support at $2,800/oz. The first resistance is at $2,920/oz, followed by $2,942/oz. The first support is at the overnight low of $2,866.3/oz, followed by $2,850/oz.
Market risk appetite was heightened at the start of the week, following a tense meeting on Friday between US President Donald Trump and Ukrainian President Volodymyr Zelensky, which raised concerns about US-Ukraine relations and the prospects of a ceasefire between Ukraine and Russia.
Meanwhile, US trade tariffs on Mexico, Canada and China are set to take effect on Tuesday. Gold prices started the week on a strong note after posting its worst weekly performance in three months.
For April gold futures, the bulls still have the upper hand in the short term, but the uptrend on the daily chart has been temporarily invalidated. The next target for the bulls is to close above solid resistance at the contract high of $2,974/oz.
Meanwhile, the bears' target is to push the price below the key support at $2,800/oz. The first resistance is at $2,920/oz, followed by $2,942/oz. The first support is at the overnight low of $2,866.3/oz, followed by $2,850/oz.
Trade active
For April gold futures, the bulls still have the upper hand in the short term, but the uptrend on the daily chart has been temporarily invalidated. The next target for the bulls is to close above solid resistance at the contract high of $2,974/oz. Meanwhile, the bears' target is to push the price below the key support at $2,800/oz. The first resistance is at $2,920/oz, followed by $2,942/oz. The first support is at the overnight low of $2,866.3/oz, followed by $2,850/oz.
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PREMIUM CHANNEL ✉️
🔴9-12 signals per day
🔴Free knowledge support
🔴24/7 support for newbies.
🔴You always have priority.
t.me/xauusdtradingfx
🔴9-12 signals per day
🔴Free knowledge support
🔴24/7 support for newbies.
🔴You always have priority.
t.me/xauusdtradingfx
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.