XAUUSD

Gold is seeing an increase in safe-haven demand amid trade war concerns following US President Trump's decision to impose a 25% tariff on Mexico and Canada. The downward trend in the Dollar Index has also increased interest in gold. Uncertainties regarding economic policies in the US keep investors interested in gold alive, while the positive opening of Asian markets supports upward movements in gold.

From a technical analysis perspective, gold is trading around the 2726 level, with the 2720 – 2727 range being monitored as a critical resistance zone. In the continuation of the upward movement, the 2727 and 2740 resistance levels may be tested. The RSI indicator is at 53, showing a neutral market outlook. Despite a 0.74% drop compared to the previous day, if gold sustains above the 2700 – 2710 support zone, the upward trend may continue. In a downward scenario, support levels at 2693 and 2685 can be monitored below 2700.