Gold rose above $2,995/oz on Tuesday, rebounding from a 4-week low as trade war fears fueled haven demand. Trump threatened a 50% duty on China starting Wednesday unless it drops its 34% tariffs, while the EU proposed 25% counter-tariffs on U.S. goods. Markets await Fed minutes (Wed), CPI (Thu), and PPI (Fri) for policy clues. Despite recent losses, gold is still up over 14% YTD.
Key resistance is at $3,050, followed by $3,085 and $3,105. Support stands at $2,956, then $2,930 and $2830.
Key resistance is at $3,050, followed by $3,085 and $3,105. Support stands at $2,956, then $2,930 and $2830.
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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.