The gold rose above 3,100, from less than 3,000 during the night, since the previous mass sale dissipated. The Xau/USD was last at levels of 3,123, the FX FX analysts Frances Cheung and Christopher Wong point out.
Risks rise up
“It is likely that the previous mass sale has been more a case of generalized liquidation in all classes of assets (or margin calls, etc.), but as the mass sale is based, gold remains a shelter in times of uncertainty. The rebound of gold reflects the growing anxiety of investors on tariff threats and the possible reconfiguration of global commercial standards.”
“As the protectionist rhetoric intensifies, markets are increasingly valuing political uncertainty and the risk that established economic and commercial frameworks can be rewritten. In this environment, gold has its role as a strategic refuge, not only against inflation, but also against geopolitical fragmentation and the risk of a more disorderly global economic order.”
“The bearish impulse in the daily chart vanished while the RSI rose. Risks rising rise. Resistance in 3,167 (recent maximum). Support in 3,048 (DMA of 21), 2,960 (DMA of 50).”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
