Gold held steady above $2,910 per ounce, maintaining a 1% gain. Investor sentiment shifted after Trump reversed his plan to double tariffs on Canadian steel and aluminum, just hours after the announcement. Ontario Premier Doug Ford also paused a 25% surcharge on US electricity exports.
Trade uncertainties and US recession fears continued to support gold, though geopolitical tensions eased as the US restored military aid to Ukraine following a 30-day ceasefire agreement with Russia. Markets now focus on upcoming US CPI data for clues on the Fed’s rate outlook.
Key resistance stands at $2,923, with further levels at $2,955 and $3,000. Support is at $2,860, followed by $2,830 and $2,790.
Trade uncertainties and US recession fears continued to support gold, though geopolitical tensions eased as the US restored military aid to Ukraine following a 30-day ceasefire agreement with Russia. Markets now focus on upcoming US CPI data for clues on the Fed’s rate outlook.
Key resistance stands at $2,923, with further levels at $2,955 and $3,000. Support is at $2,860, followed by $2,830 and $2,790.
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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.