Yesterday, gold experienced only a brief pullback, followed by consolidation, and today, during the Asian session, gold surged again, hitting a new historical high of 2942. From the beginning of 2025, the price of gold has already risen by more than 11%.
Trump signed an executive order announcing a 25% tariff on all steel and aluminum imports into the U.S. He also stated that there would be no exceptions or exemptions for this requirement. Additionally, Trump mentioned that tariffs on automobiles, chips, and pharmaceuticals might also be considered.
Furthermore, increasing geopolitical uncertainties have continued to suppress risk appetite, while global economic growth momentum is slowing. The debt crises in some foreign economies have further fueled investor risk aversion.
These factors have contributed to a rise in market risk aversion, pushing gold prices higher.
From the 1-hour chart, gold has pulled back again to the low point of yesterday’s consolidation near 2900. If this level holds as support, it would present an excellent buying opportunity. The 2900 level is both a psychological level and the 0.618 Fibonacci retracement, and if gold stabilizes here, there’s a high probability it will continue toward 2950.
Here’s the strategy:
BUY: 2900-2905
TP1: 2920
TP2: 2940
TP3: 2950
Trump signed an executive order announcing a 25% tariff on all steel and aluminum imports into the U.S. He also stated that there would be no exceptions or exemptions for this requirement. Additionally, Trump mentioned that tariffs on automobiles, chips, and pharmaceuticals might also be considered.
Furthermore, increasing geopolitical uncertainties have continued to suppress risk appetite, while global economic growth momentum is slowing. The debt crises in some foreign economies have further fueled investor risk aversion.
These factors have contributed to a rise in market risk aversion, pushing gold prices higher.
From the 1-hour chart, gold has pulled back again to the low point of yesterday’s consolidation near 2900. If this level holds as support, it would present an excellent buying opportunity. The 2900 level is both a psychological level and the 0.618 Fibonacci retracement, and if gold stabilizes here, there’s a high probability it will continue toward 2950.
Here’s the strategy:
BUY: 2900-2905
TP1: 2920
TP2: 2940
TP3: 2950
Trade active
2900 has been lost, this trading strategy is invalid
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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.
📣More detailed real-time trading strategies will be released in the channel, welcome to join and get them
🟢Join the free Telegram group:
t.me/Reliable_Trading0
🟡Contact me to copy trading:
t.me/Reliable_Trading1
🟢Join the free Telegram group:
t.me/Reliable_Trading0
🟡Contact me to copy trading:
t.me/Reliable_Trading1
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.