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FX.co ★ XAU/USD – Analysis and Forecast

XAU/USD – Analysis and Forecast

XAU/USD – Analysis and Forecast

Gold is finding support near the $3,116 level, pausing its intraday pullback after reaching a new all-time high. Investor concerns over the potential consequences of President Donald Trump's reciprocal tariffs on global free trade and the broader global economy are driving increased demand for safe-haven assets, including gold.

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Expectations that the U.S. economic slowdown will lead to Federal Reserve rate cuts sooner than previously anticipated are also weighing on the dollar, thereby supporting gold prices.XAU/USD – Analysis and Forecast

From a technical perspective, the RSI indicator on the daily chart signals overbought conditions, which is keeping bulls from initiating new long positions. A period of consolidation or a short-term pullback before the uptrend resumes appears reasonable. However, the overall trend remains bullish, and any decline toward the $3,100 level could offer a buying opportunity. This is a key support level—weakness below it may trigger further declines toward the $3,076 area and potentially down to the psychological $3,000 level.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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