Gold Price Faces Volatility at $3,000 Threshold Amid Market Turmoil
Gold Price Faces Volatility at $3,000 Threshold Amid Market Turmoil
Gold prices surged to record highs exceeding $3,100 per ounce in late March 2025, driven by investor concerns over new U.S. tariffs and potential inflation.
On April 7, 2025, gold dipped below the $3,000 mark, reaching a three-and-a-half-week low of $2,956, reflecting a pullback from recent peaks.
President Donald Trump's announcement of significant tariffs on imports has led to retaliatory measures from China, heightening fears of a global recession and influencing gold's safe-haven appeal.
Escalating trade tensions have contributed to a broader market sell-off, with gold experiencing volatility despite its traditional role as a safe-haven asset.
Reuters
Key support for gold is identified around $2,956, with further support near $2,930, including the 20-day moving average at $2,921.
A decisive breakout above $3,005 could signal further gains, with higher targets ranging from $3,012 to $3,043.
