Gold rebounds from $2,957, reclaims $3,000 zone as Trump tariff fuels safe haven demand.

Gold dips to $2957 and reclaims $3000 amidst recovery rally.
Trump Tariff shrugs off selling pressure as safe haven demand resurfaces.
Immediate support $2995 supports recocery eyeing $3023 & $3038
Current bounce back rally is correctional move after sell off.

Sunil Kumar Dixit SK Charting

As Gold witnessed a sharp sell off to $2957, a follow up recovery rally fuelled by safe haven demand helped the metal reclaim the psychological perch $3000 advancing to $3017 triggered by Trump Tariff war announcing new inputs.

The sell off is impulsive and current recovery rally is part of correctional move that may witness Gold prices recovering to $3023 followed by $3034

The next resistance may come at $3054-$3058

Local demand zone is seen actively supporting recovery attempts at $3000-$2995 as well as $2988

Author

Sunil Kumar Dixit

SK Charting

Sunil Kumar Dixit is Chief Technical Strategist and founder of SK Charting, a research firm based in India. He tracks Precious Metals, Energy, Indices and Currency Pairs. He also participates as an expert panellist on Channel Television, Nigeria.

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