- summary:
- Gold prices recovered with India’s request and Trump tariff threats in China enhances safe appeal. Xauusd eyes $ 3,100 after a liar support.
Gold prices witnessed a sharp recovery today, as it reflected the losses early in the week, as the escalating trade tensions and strong material demand from India revived the upholstery momentum in the precious metal. Spot Gold (Xau/USD) rose to more than $ 3,060 after major support was found near $ 2958, supported by geopolitical certainty and inflationary expectations.
Gold price in India today
The local gold market in India has added a great weight to the upcoming feelings today. Prices jumped in the main Indian markets when buyers returned in anticipation of more customs tariffs after the promise of US presidential candidate Donald Trump 104 % definitions On Chinese goods. This aggressive trade position is to revive fears of a renewed trade war-which leads to global demand for safe assets such as gold.
- In cities such as Mumbai and Delhi, the demand for gold has increased with retailers who have reported a noticeable increase in the purchase of the wedding season.
- The importers responded by locking supplies before the expected price increases, adding an upward pressure on local prices.
- It has made weak Indian gold, along with high international prices, gold is more expensive – but this has not fill the demand.
Macro stimulus: Trump threats by 104 % in China, commercial war fears 2018
- Global stocks turn into syndrome, and investors re -customize inflation hedges such as gold.
- This step motivated safe flows to precious metals, which strengthened Xauusd even as the dollar continues.
RBI average decision: Ribo republic in India carries – but inflation clouds waved on the horizon
The Indian Reserve Bank (RBI) kept the Ribo restoring price fixed in the recent policy decision, as it is in line with the market expectations. However, the central bank has constantly raised concerns about the high food and fuel prices, while maintaining the high risk of inflation.
- The neutral position of RBI keeps liquidity conditions stable, but with inflation over the target range, real interest rates remain negative, in favor of gold.
- Retail investors in India continue to transfer money into sovereign gold bonds and physical alloys as a hedge against strength erosion.
Technical analysis
Spot Gold (Xau/USD) has a strong recovery today after testing the decisive support level near $ 2958, as it rose about $ 3,062 at the time of writing this report.
The main support and resistance levels of gold
- Resistance: $ 3,100 – high recently; The collapse above can open the doors to $ 3,200.
- Immediate support: $ 3,057 and $ 2,958 – last demand areas.
- Deeper support: 2,853 dollars and $ 2,791 – price congestion and replacement levels.
Expectations: Gold to remain crowded with global uncertainty and festive demand in India
With the rise in Indian demand, the threats of the US tariff that indicates fears of the trade war, and central banks around the world remain cautious, gold is still well supported in the short term.
What do you see:
- Inflation data in the United States later this week – every surprise may increase the bullish direction of gold.
- The trends of material demand in India are heading to Akshaya Treetia (late April), a major festival for the purchase of gold.
- Any transformation in politics or a sudden suspension from the federal reserve or RBI.
conclusion
Gold regains its brilliance as the convergence of factors – from geopolitical risks to Indian demand for retail – renewed the upward morale. As long as the total uncertainty and fearing inflation still exists, declines in gold prices are still bought strongly, with $ 3100 as an immediate upward goal.
