Daily Gold (XAU/USD)Gold is currently trading near the upper end of its retracement zone, defined by $3228.38 to $3164.23, with the recent bottom at $3201.95. Should downside pressure persist, traders will look to the 50-day moving average at $3137.70 for initial support. Below this, a break toward $3000–$2956.56 cannot be ruled out. That zone represents
The nearest support is a pair of 50% levels at $3166.46 and $3018.52. The major support is the 52-week moving average at $2692.05. There is nothing really exciting about this chart pattern. Investors essentially have two choices, buy strength or buy a dip. If bullish news drives the price action then investors are likely to
Tariff Talk and Geopolitical Risks Fuel Gold’s Momentum Market participants are responding to a complex backdrop that includes unresolved conflicts in Eastern Europe and heightened Middle East tensions. While the Russia–Ukraine situation remains unresolved, recent developments have reignited volatility. In parallel, fresh threats of retaliation and regional instability in the Middle East have led to
At the same time, U.S. economic signals painted a mixed picture: GDP shrank by 0.3% in Q1 and core PCE was flat in March, while jobless claims rose to 241,000. Yet April’s jobs report offered just enough resilience to keep the Fed on the sidelines for now, limiting gold’s near-term upside. Fed in Focus with
Is Technical Pressure Signaling a Deeper Pullback? The daily chart suggests ample room for additional downside movement, with the next significant support level marked at $2.199. Immediate resistance is seen at the 61.8% short-term retracement level of $2.995. A break above this could spark short-covering activity, but upside momentum would likely stall near the 50%
On the other hand, political instability also played a role in this decisive move. President Trump’s criticism of Fed Chair Jerome Powell created fears of policy interference. His remarks pushed the US Dollar Index to a three-year low of 97.923 and spooked bond markets, with 10-year Treasury yields rising above 4.4%. These developments weakened fiat
Daily Natural GasCurrent price action shows natural gas testing major support at $3.924. If this level holds, the market could target minor resistance at $4.094, followed by $4.253. The critical trigger point for a decisive upside breakout sits at $4.317. Conversely, a breakdown below current support could accelerate selling pressure toward $3.732, with further downside
Production Holds Steady Despite Falling Rig Counts Despite a drop in the U.S. natural gas rig count—down seven last week to just 96—output remains strong. Lower-48 dry gas production averaged 106.4 Bcf/d on Friday, up over 4% from a year ago. This persistent output is meeting softening demand head-on. Industrial and residential usage remains subdued,
At 10:28 GMT, Light Crude Oil Futures are trading $68.45, down $3.26 or -4.55%. Trump Tariffs Raise Global Demand Concerns The sell-off accelerated after President Trump announced a sweeping 10% minimum tariff on most U.S. imports, escalating fears of a broader trade war. While oil and refined products were excluded from the new duties, traders
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