GOLD drops 0.5% 📉

📌Gold loses momentum ahead of tomorrow Trump announcement on tariffs

Gold prices slide 0.53% today to $3106 level ahead of tomorrow’s so-called “Trump’s Liberation Day.” According to the White House, Trump has made a decision on tariffs but takes market swings “seriously,” which may signal that the move will not be as severe as market fears suggest. While such a scenario is not guaranteed, it could put pressure on gold, which has recently surged amid heightened concerns over extreme tariffs. At this point, the outlook remains uncertain, but the gold market appears to be pricing in a potential easing of uncertainty — a key risk for gold bulls. This shift may reverse momentum away from precious metals toward the U.S. dollar and equities.

WH Press Sec. Leavitt remarks

• There are a few countries that have called to discuss tariffs. 

• The President is always open to taking calls. Israel eliminates tariffs on American goods.

• Reciprocal tariffs will take effect immediately following the announcement.

• Reciprocal tariffs and car tariffs go into effect on April 3rd

• The President is with the trade and tariff team now, perfecting decisions.

• Trump looking at trade practices of the past on tariffs.

• If you make in America, you will pay no tariffs.

• The President will take historic action tomorrow to improve American competitiveness.

GOLD (H1 interval)

The gold price dipped below EMA50, falling almost $40 from all-time high near $3150 zone. In the correction scenario, gold may retest even $3000 zone, where we can see also 38.2 Fibonacci retracement (and important price action - the consolidation zone from March 22 to March 26) of the recent upward wave.

Source: xStation5