Rising uncertainty and weakening confidence in global markets are pushing investors away from high-risk assets and toward safe havens. U.S. President Trump’s criticism of Federal Reserve Chair Jerome Powell, along with uncertainty over whether Trump will interfere with Fed policy, has further fueled the shift toward safe assets.
In this context, investor appetite for the dollar has declined, while demand for gold has risen significantly. On the geopolitical front, Trump’s statements suggesting a possible agreement between Russia and Ukraine this week are seen as a positive sign that may ease tensions.
This morning, spot gold approached the 3500 level. If it manages to hold above this threshold, the next potential target could be 3550. On the downside, the levels of 3440 and 3410 are considered important technical support zones.
Support: 3440 - 3410
Resistance: 3500 - 3550
In this context, investor appetite for the dollar has declined, while demand for gold has risen significantly. On the geopolitical front, Trump’s statements suggesting a possible agreement between Russia and Ukraine this week are seen as a positive sign that may ease tensions.
This morning, spot gold approached the 3500 level. If it manages to hold above this threshold, the next potential target could be 3550. On the downside, the levels of 3440 and 3410 are considered important technical support zones.
Support: 3440 - 3410
Resistance: 3500 - 3550
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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.