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Spot Gold Rallies as Tariff Fears Lift Safe-Haven Demand; Focus Shifts to U.S. Jobs Data

Spot gold prices broke through the $3,332–36 resistance on Monday, rallying and strengthening momentum to rise toward the $3,400–$3,500 zone as safe-haven demand surged amid renewed U.S.-China trade tensions.

Spot Gold advanced after China rejected Trump’s accusations of breaching a recent trade deal and vowed to defend its interests.

In other news, markets gained support from a weaker US Dollar following comments from Fed Governor Waller, who backed rate cuts later this year.

Waller downplayed the inflationary impact of Trump’s tariffs but cautioned that rising trade risks could still weigh on the economy.

With the bullish momentum increasing, the Relative Strength Index (RSI) is technically positive, while the Moving Average Convergence Divergence (MACD) signals ongoing uncertainty.

The Average Directional Index (ADX) indicator, used to measure the strength of a trend, regardless of its direction, suggests a weak bull trend.

With the broader structure still supportive—bolstered by geopolitical tensions and US fiscal concerns—the topside focus shifts to US$3,400, with a broader push toward the all-time high near $3,500 likely prompting another reassessment.

Any weakness is expected to be temporary, with support seen near $3,348–57 (wide).

Daily Chart Spot Gold

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