GOLD - USD - Gold - DAILY- 31/03/2025 - 03/31/2025 (GMT)

Gold prices have reached a record high, surpassing $3,100, due to increasing concerns over a potential global trade war and US stagflation, leading to a rise in demand for this safe-haven asset. US President Donald Trump is considering imposing global tariffs of up to 20% on all US trading partners, which could intensify inflationary pressures and hinder global economic activity, according to a report by The Wall Street Journal. Despite the ongoing uptrend in gold prices, there is uncertainty about its sustainability as traders might resort to profit-taking ahead of Trump's tariff announcements.
 From a technical point of view, the price of gold has broken above the resistance of the round number of $3,100 and is on the move to reach new highs if no major catalyst is seen. The 50-day moving average moving average is trading well above the 100-day moving average validating the bullish trend in the market while the Stochastic is in the extreme overbought levels hinting that there might be a minor bearish correction but that might not be very significant given the bullishness of the market.  Overall there are no major signs of bearish movement apart from the Stochastic so the most probable scenario for the near short term might be leaning more towards the continuation of the bullish trend .