In this Gold analysis, we review the commodity from technical and fundamental aspects. It also features trend examination, price forecasts, support and resistance levels, and trading signals.

We update this page daily to ensure you have the latest information by covering the XAU/USD price changes.

Gold Live Chart

Gold Analysis: Fundamental View

Bloomberg—Gold surged to approximately $2,910 per ounce on Tuesday, supported by a weaker U.S. dollar and increased demand for safe-haven assets amid growing economic concerns.

Worries about a potential slowdown intensified after former President Donald Trump mentioned in a recent Fox News interview that the U.S. was undergoing a “period of transition” and did not dismiss the possibility that his trade policies could contribute to a recession.

U.S. Delays Tariffs; Canada and China Counter with Measures

The market reacted to the U.S. decision to postpone 25% tariffs on certain Canadian and Mexican imports for another month, while Canada maintained its countermeasures, and China responded with new tariffs on select American agricultural products.

Meanwhile, Federal Reserve Chair Jerome Powell acknowledged the increasing economic uncertainty but suggested there was no immediate need for an interest rate cut.

Investors are now awaiting U.S. inflation data later this week, which could impact the Fed’s monetary policy decisions.

XAUUSD Technical Analysis

FenzoFx—Last day, gold broke below $2,892 support, but unexpectedly, the prices returned upward, currently trading at approximately $2,910. The recent bar of the Awesome Oscillator turned green, meaning the current bullish momentum should resume.

In this scenario, $2,930 could be the next buyers’ target. Furthermore, a break above $2,930 can spark a new rally, targeting $2,955.

Please note that the bullish outlook should be invalidated if XAU/USD closes and stabilizes below the immediate support at $2,893.