The price of gold (Xau/USD) is struggling to get more than 2900 dollars after a decrease to $ 2,877 before a modest recovery recovery. Despite recovery, the metal remains under pressure, and fights to restore a higher floor.
With the escalation of geopolitical tensions, uncertainty in the federal reserve, and commercial tariffs that feed market fluctuations, investors closely monitor the main technical levels that can dictate the next step for gold.
At the time of the press, gold is traded at $ 2,898, with a daily profit of 0.55 %. Despite the short -term conflicts, the metal maintained a strong momentum, as it recorded a 10.8 % profit.
Golden Technical Analysis: The main levels of viewing
Gold continues to circulate within an upward channel, with a wrong collapse confirming the demand for lower levels. The market remains upward, as the price procedures are unified within the range of $ 2,880 – 2,940 dollars, with $ 2,904.7 as a major resistance level.
It can open a break above $ 2,904.7 for the needer to raise about $ 2,922.6 and 2,938.45 dollars, which enhances the upscale look.
On the contrary, failure to retain $ 2,904.7 can lead to a re -test of $ 2,880 – $ 2,893 before trying another. It is a lower confirmed break male By the analyst Relinda.
Market drivers: Federal Trade and Reserve Policy in focus
The next step of Gold is likely to be formed through geopolitical tensions and renewed fears of the trade war, with market morale increasingly with developments in American trade policy and federal reserve directives.
President Donald Trump’s proposal led to mutual definitions and possible fees on auto imports by April 2 to increase fears of a global trade war, prompting investors to switch to gold as a hedge against economic instability.
Besides commercial risks, all eyes are in the field of federal reserves, with the upcoming FOMC report and unemployment claims that expect to inject fluctuations in the market. With high uncertainty, traders still focus on these major total economic engines, because any escalation in global risks can provide the next main catalyst for metals.
Gold Road to $ 3000
While preserving the momentum, the artificial intelligence model projects that can reach $ 3000-a long-term student-at the end of Q1 2025. reaching this level will require an increase of 3.39 % during the next month, which seems possible given a rise in a rate 6 % in a little more than a month.
With geopolitical risks, commercial tensions, and the transformation of monetary policy that drives uncertainty in the market, gold remains in a good position to achieve other gains. However, its ability to maintain the main support levels will be decisive in determining whether the gathering can maintain momentum.
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