Gold breaks the $3,100 mark amid Trump's new tariff threats

Gold prices are showing steady growth, reaching an all-time high of $3,111.06 per ounce on Monday. The trading session began at $3,108.16, indicating a continuing uptrend.

The key growth drivers are geopolitical risks and economic uncertainty. Gold is benefiting from US plans to impose new trade tariffs, as well as the Donald Trump administration's proposal to impose secondary duties of 25–50% on buyers of Russian oil. These factors are prompting investors to seek refuge in gold, a traditional safe-haven asset.

Additional support for the precious metal is provided by the macroeconomic situation in the United States. Core inflation exceeded expectations: the personal spending price index rose by 0.4% for the month and by 2.8% in annual terms. This was higher than experts' forecasts and raises concerns about the economic outlook of the United States. Also, a 0.2% decline in the US Dollar Index made gold more affordable for international buyers, further boosting demand.

Technical analysis confirms the potential for further growth. The MACD indicator demonstrates stable upward movement without signs of reversal or correction. The widening gap between the MACD line and the signal line indicates persistent strong buying pressure. The Stochastic oscillator shows a similar picture: the %K line is above the %D line in the neutral zone, which indicates the prevalence of bullish sentiment.

In the short term, a technical correction could occur after hitting this historic peak. However, fundamental factors continue to support interest in gold. An important event will be the announcement of the details of US trade policy, scheduled for April 2-3. Any shift in the administration’s stance could significantly impact gold’s price trajectory.

Current market conditions suggest the uptrend will persist unless there are major positive developments in trade relations or the broader economic outlook.

Current Recommendation:

Buy at the current price. Take profit — $3,180. Stop loss — $3,019.80