Gold prices edged slightly lower on Monday, following an explosive three-day surge that catapulted the yellow metal to new all-time highs. June gold futures are now trading near $3,226.90—down $28.40 on the day—as traders take profits amid a backdrop of global uncertainty and U.S.-China trade tensions.
Gold’s powerful uptrend began mid-last week, gaining momentum after President Donald Trump imposed steep tariffs on China. From Wednesday to Friday, gold prices soared by more than $250:
This sharp move pushed the total three-day gain to 8.34%, with gold futures touching a record $3,245 during intraday trading.
The driving force behind this surge is escalating geopolitical risk. President Trump’s tariff offensive—now totaling a 145% levy on Chinese imports when factoring in previous duties—sparked fears of a full-blown trade war. China retaliated with 125% tariffs on U.S. goods.
Gold, a traditional safe-haven asset, has benefited significantly from this turmoil. Since February 4, gold has added more than $320, with most of those gains aligning with major tariff announcements.
Despite today’s pullback, the overall trend remains bullish:
The 14-day RSI shows mildly overbought conditions, suggesting a short-term consolidation may occur before the next move.
While today’s dip may seem like a pause, the fundamentals still favor gold bulls. With economic uncertainty, aggressive trade policies, and a weakening U.S. dollar, gold remains one of the most attractive assets for risk-averse investors.
📊 Stay updated with real-time gold trends and forecasts at www.dailyforex.pk – your go-to source for the latest in global commodities.
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