Gold price stalls strong intraday move up ahead of $3,500; bullish potential remains intact
Gold price (XAU/USD) retreats slightly from the $3,500 neighborhood, or a fresh all-time high touched during the Asian session on Tuesday as bulls pause for a breather amid overbought conditions on short-term charts. Any meaningful corrective downfall, however, still seems elusive as worries that US President Donald Trump’s steep tariffs and the erratic trade war would push the global economy into a recession. This, along with geopolitical tensions, might continue to act as a tailwind for the safe-haven bullion.
Resistance 3 – 3,561.66
Resistance 2 – 3,495.98
Resistance 1 – 3,460.33
Pivot Point – 3,394.65
Support 1 – 3,359.00
Support 2 – 3,293.32
Support 3 – 3,257.67