Market Analysis for Today

Gold price has flat-lined late in the North American session, capped by the recovery of the US Dollar Index (DXY), which fell to a low of 104.18 before staging a recovery. The move was sponsored by the White House, which said that President Donald Trump would announce automobile tariffs at around 22:00 GMT. At the time of writing, XAU/USDtrades at $3,019, virtually unchanged.

Bullion traders failed to gain traction on headlines that Trump is considering announcing limited tariff plans and automotive tariffs, according to The Wall Street Journal. In the meantime, the US Dollar Index (DXY), which tracks the performance of the Greenback against six currencies, rises 0.32% to 104.55.

Gold opened at around 3048 and rose to around 3055 at the highest and around 3046 at the lowest before press time.Pay attention to the resistance of 3050-3060-3070 If it fails to break through, it will test3000-2990-2980