Gold rises to near $5,100 as Trump’s tariffs boost haven demand, US-Iran talks eyed

💡 DMK Insight

Gold’s rise to near $5,095 is a direct response to geopolitical tensions and economic uncertainty. With President Trump’s tariff threats stirring market anxiety, traders are flocking to gold as a safe haven. This behavior aligns with historical trends where gold prices surge during periods of instability. If this rally continues, watch for resistance around $5,150, which could trigger profit-taking or a reversal. On the flip side, if tariffs are resolved or economic indicators improve, we might see a pullback. Keep an eye on the daily charts for any signs of overbought conditions, as RSI levels approaching 70 could signal a correction. Also, monitor related assets like the US dollar and equities, as their movements can influence gold’s trajectory significantly. In the short term, traders should be prepared for volatility as market sentiment shifts rapidly based on news developments.