XAUUSD

The announcement by U.S. President Donald Trump regarding a 25% tariff on steel and aluminum imports has heightened concerns over trade wars while also supporting the search for safe havens. Although the Dollar Index has risen, gold prices are exhibiting an upward movement.

The precious metal is trading above levels supported by short-term indicators. Gold can maintain an upward outlook as long as it does not decline below the 2850 – 2860 range. If the upward trend continues, levels of 2877 and 2890 may be reached. The 2877 level is critical for sustaining positive expectations. However, if it falls below the 2850 – 2860 region, a negative trend could begin. In this case, a movement towards the 2840 and 2830 levels may be observed. The critical level of the day: the 2850 – 2860 range.