Gold Prices Hover Near Record Highs Ahead of Trump’s Tariff Announcement
FXOpen
As shown on the XAU/USD chart today, gold prices are fluctuating near their all-time high, set when the price of an ounce surpassed $3,140 for the first time in history.
Gold has risen by approximately 19% in the first three months of 2025.
Why Is Gold Rising?
On 2 April, traders' sentiment is driving gold prices higher in anticipation of US President Trump’s tariff announcements, expected later this evening.
This event enhances gold’s appeal as a safe-haven asset, as concerns grow that Trump’s aggressive trade policies could slow global economic growth and fuel inflation.
Additionally, media reports highlight strong demand for gold from central banks, while exchange-traded funds linked to the precious metal are seeing capital inflows from investors concerned about geopolitical uncertainty.
Technical Analysis of XAU/USD
Gold price movements have formed two ascending channels in 2025: a broader blue channel and a steeper purple channel.
Notably, gold is currently trading near the midpoints of both channels, indicating that supply and demand may have reached equilibrium after buyers broke through resistance around $3,088 (marked by an arrow).
It is likely that XAU/USD will exhibit low volatility until news about Trump’s tariffs emerges. This could trigger sharp price movements, with a potential test of the purple channel’s boundaries in the near future.
Start trading commodity CFDs with tight spreads (additional fees may apply). Open your trading account now or learn more about trading commodity CFDs with FXOpen.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Stay ahead of the market!
Subscribe now to our mailing list and receive the latest market news and insights delivered directly to your inbox.
Latest articles
US Dollar Strengthens Amid Equity Market Weakness and Hawkish Fed Rhetoric
The US dollar continues to hold firm near multi-year highs as sentiment across equity markets deteriorates and investors increasingly expect the Federal Reserve to maintain a restrictive monetary policy stance for longer. The US economy remains resilient, while inflation risks
Bitcoin: Corrective Channel Broken as Traders Turn More Active
Bitcoin has come under the influence of several factors simultaneously. The wave of selling at the beginning of June was linked to Strategy's first disclosed Bitcoin sale in several years, a prolonged series of outflows from spot ETFs, and a
DAX 40: consolidation amid technology sell-off
A wave of selling in the technology sector that emerged earlier this week has weighed on European equities. The trigger was investor concern over the profitability of large-scale debt-funded investments by major US tech companies in AI infrastructure. The Nasdaq