Gold Hovering Amid the Shadow of Trump Tariffs and Global Volatility
Gold prices rebounded from a one-month low after renewed concerns about US import tariffs, which reached their expiration today (Brazil, India, and South Korea). This tension strengthened safe-haven demand for gold.
Although expectations for a US interest rate cut have slowed, gold remains supported as a hedge against inflation and trade tensions.
Although most central banks remain aggressive in buying gold, there was a decrease in purchase volume from Q1 to Q2 2025 ([] from 243 tons to 166 tons), which has put pressure on price growth momentum.
According to a Reuters poll of analysts, gold prices are projected to remain above USD 3,000/oz with an average target of USD 3,220 by the end of 2025, and potentially reaching USD 3,400 in 2026 if US fiscal and geopolitical risks worsen.
Nearest resistance is at USD 3,300–3,318–3,330; An upward breakout opens the potential for a price move to USD 3,350–3,400. Meanwhile, key support is around USD 3,250–3,267. A break below this level could push the price to USD 3,200–3,220.
Currently, gold prices are holding above key support, while the rebound is supported by safe-haven demand. A breakout above USD 3,330 could open the path to USD 3,350–3,400. Conversely, if the price falls below USD 3,250, the risk of a correction to USD 3,220–3,200 will increase.
Source: Newsmker.id