President Trump wrote on Fact Social that imports of gold is not going to be tariffed, OCBC’s FX analysts Frances Cheung and Christopher Wong observe.
Gentle bullish momentum on day by day chart fades
“This helped to take away earlier confusion when media earlier reported that 1-kg and 100-oz gold bar imports from Switzerland will likely be tariffed at 39%. Nonetheless, there may be nonetheless no formal replace/ government order handed on this. Close to time period, US CPI and market expectation of Fed minimize trajectory might also affect gold outlook.”
“XAU was final seen at 3351. Gentle bullish momentum on day by day chart pale whereas decline in RSI moderated. Key space of help round 3340/50 (21, 50 DMAs). Decisive break places subsequent help at 3290 ranges. Resistance at 3450, 3500 (2025 excessive).”
