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Spot Gold Steadies Ahead of US PCE While Tariffs Spur Caution

The yellow precious metal steadied on Friday after retreating from record highs, as markets weighed fresh US tariffs and awaited key PCE inflation data.

Spot Gold is on track for its sixth straight weekly gain, buoyed by safe-haven demand after Trump’s sweeping tariff announcement, including a 100% levy on pharmaceutical imports.

However, a firmer dollar alongside robust US GDP and jobless claims limited further upside, while Powell and other Fed officials reiterated concerns over sticky inflation and labour market weakness.

Technically, conditions remain stretched. The RSI has eased slightly from overbought territory, the MACD stays mixed, and the ADX continues to highlight range-bound momentum.

Support is seen at $3,736, where dip buyers may step in, while resistance is stacked between $3,746 and $3,754, a zone bulls need to reclaim to reignite momentum.

With sentiment caught between profit-taking and haven demand, the metal is likely to remain choppy until a fresh catalyst emerges. Reassess from there.

Daily Chart Spot Gold

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