The price of Gold moved back below the $3,400 level on Friday, as bulls began to react to key economic news.
After initially surging, Friday’s selloff comes as markets continued to react to the Trump tariffs coming into effect, with levies of 39% slapped onto Switzerland.
The U.S. Customs and Border Protection agency also announced that it will be placing tariffs on one-kilo gold bars, which will likely impact Switzerland, a major gold exporter to the United States.
Today’s news resulted in the 14-day relative strength index (RSI) failing to move beyond its resistance level of 56.43, falling to a current level of 55.81.
Despite the volatility, XAUUSD could still be set for a bull run, especially as the 10-day and 25-day moving averages prepare for an upward crossover.
Should this occur, we could see a rise in bullish momentum, with Gold moving above $3,451 and setting a new record high.
作者：Eliman Dambell，文章来源FXStreet，版权归原作者所有，如有侵权请联系本人删除。
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