XAUUSD

US President Trump continually announces new regulations regarding tariffs. Following the European Union's implementation of a 50% additional tariff on whiskey exports from the US, Trump warned that he might impose a 200% tariff on alcoholic beverages originating from Europe. The producer price index falling below expectations has created optimistic views regarding inflation. With increasing uncertainty and fears of declining inflation, gold prices have reached record levels. Throughout the day, the University of Michigan's consumer sentiment and inflation expectations will be closely monitored.

Gold, a precious metal, is trading above levels supported by short-term indicators. As long as it stays above the 2947 – 2955 range, the upward momentum may continue. If positive movements persist, a rise towards the levels of 2993 and 3000 could occur. However, for a bearish sentiment to develop, it may be necessary to see sustained pricing below the 2947 – 2955 range.