Market Analysis for Today

Gold price is rallying over 1% on Monday, snapping two days of losses as the Greenback gets battered due to safe-haven demand and falling United States (US) Treasury bond yields. Geopolitical tensions and tariff threats by US President Donald Trump increased demand for the safety appeal of Bullion. XAU/USD trades at $2,888 at the time of writing.

Risk appetite deteriorated following the clash between US President Donald Trump and Ukrainian President Volodymir Zelenskyy last Friday. In the meantime, tariffs imposed on Mexico, Canada and China are expected to kick in on Tuesday

Gold opened at around 2892 and rose to around 2893 at the highest and around 2882 at the lowest before press time.Pay attention to the resistance of 2900-2910-2920 If it fails to break through, it will test 2870-2880-2890