XAUUSD

On Monday, President Trump announced that a 25% tariff on Mexico and Canada has come into effect and that tariffs on China will be increased to 20%. He also emphasized that a response will be given to countries imposing tariffs on the U.S. on April 2. This situation has heightened inflation concerns and increased risk perception in the markets. With the decline in the Dollar Index, spot gold has started to gain value in the short term.

The precious metal is currently trading in the 2877 – 2890 range. To strengthen positive expectations, sustained pricing above the 2890 level is necessary. In case of potential recoveries, the 2907 and 2920 levels may be considered. For negative scenarios, four-hour closes below the 2877 level are significant. In the case of a decline, the 2870 and 2860 levels could come into play.