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Moreover, geopolitical concerns also impact gold\u2019s momentum. US President Donald Trump confirmed new tariffs on Canada, Mexico, and China, with implementation dates moved forward. The uncertainty surrounding trade tensions increases volatility in financial markets. However, investors seek refuge in the US Dollar instead of benefiting from gold as a traditional safe haven. With the upcoming release of the PCE Price Index, gold may remain under pressure if inflation data supports a stronger dollar.<\/p>\n
The daily chart for gold shows that the price has started to correct lower from the resistance area of $2,900\u2013$3,000. Strong support lies around $2,865; a break below this level could trigger a move toward the $2,800 zone. However, a break above $2,950 will indicate further upside. The RSI is correcting from the overbought region, suggesting further downside. However, the price structure within the ascending broadening wedge and the ascending channel suggests that this correction will likely create another buying opportunity, targeting the $3,000 and $3,200 regions.<\/p>\n<\/div>\n
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[ad_1] Moreover, geopolitical concerns also impact gold\u2019s momentum. US President Donald Trump confirmed new tariffs on Canada, Mexico, and China, with implementation dates moved forward. The uncertainty surrounding trade tensions increases volatility in financial markets. However, investors seek refuge in the US Dollar instead of benefiting from gold as a traditional safe haven. With the upcoming release of the PCE Price Index, gold may remain under pressure if inflation data supports a stronger dollar. Gold (XAU) Technical Analysis Gold Daily Chart \u2013 Correction The daily chart for gold shows that the price has started to correct lower from the resistance area of $2,900\u2013$3,000. Strong support lies around $2,865; a break below this level could trigger a move toward the $2,800 zone. However, a break above $2,950 will indicate further upside. The RSI is correcting from the overbought region, suggesting further downside. However, the price structure within the ascending broadening wedge and the ascending channel suggests that this correction will likely create another buying opportunity, targeting the $3,000 and $3,200 regions. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":36981,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-36980","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t