April 22, 2025 – DailyForex.pk
Gold prices (XAU/USD) continued their historic climb on Monday, printing a new record high above $3,380 during the Asian session. The metal now trades within striking distance of the psychological $3,400 level, driven by growing concerns over US tariff escalation, Federal Reserve independence, and a weakening US dollar.
Despite a brief pullback ahead of the Easter weekend, bullish momentum returned strongly, supported by elevated safe-haven flows and fresh political risk.
At the time of writing, XAU/USD trades around $3,383.83, with the 14-day Relative Strength Index (RSI) hovering at 75.50, signaling an overbought market. Still, gold buyers show no signs of retreat.
Key Levels to Watch:
Despite stretched technicals, gold remains well-supported, and any dips are likely to be viewed as buying opportunities unless the $3,284 level breaks decisively.
Gold’s explosive rally is fueled by a combination of risk-off catalysts:
While the week kicks off with light US economic data, gold traders will stay focused on:
With thin liquidity due to Easter Monday holidays in global markets, volatility could spike, making gold’s movement sensitive to even minor headlines.
As XAU/USD edges closer to $3,400, investors continue piling into gold amid deepening geopolitical risks, tariff-related concerns, and questions around Fed leadership. While technically overbought, gold remains fundamentally supported, and bullish sentiment prevails.
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