The temporary 90-day tariff reduction agreement between the United States and China, along with ongoing diplomatic communications, has weakened demand for gold and other safe-haven assets. A temporary easing of geopolitical tensions has also prompted investors to shift toward higher-risk assets.
On the economic front, U.S. inflation data (CPI) released yesterday came in below expectations, but the impact of tariffs was limited, and the data did not cause significant volatility in gold prices.
This morning, gold is trading with a bearish tone, and this downward pressure is likely to persist throughout the day. If the 3,200 level is broken, the next support may be found at 3,168. In case of a rebound, resistance levels are located at 3,260 and 3,282.
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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.