Gold – Shallow pullbacks expected as market positions for further gains

Gold retreats from its new all-time high of $3,057 on Thursday, as overbought daily conditions triggered partial profit-taking, while a stronger dollar added pressure on prices.

The metal surged past the $3,000 milestone after a period of consolidation, driven by rising demand for safe-haven assets.

Persistent concerns over the trade war’s economic impact, including slowing global growth and inflation risks, alongside escalating geopolitical tensions and a more hawkish-than-expected Federal Reserve, continue to support gold’s bullish outlook.

Gold has gained approximately 16% in 2025, maintaining a strong uptrend in the first quarter, with only shallow corrections as investors position for further upside. Key market drivers are expected to remain favorable, reinforcing the metal’s upward trajectory.

The broken $3,000 level now serves as a strong support zone, with any extended pullbacks likely to find a solid footing above the rising 10-day moving average ($2,974), ensuring the broader bullish trend remains intact while providing better entry points for buyers.

Res: 3057; 3079; 3100; 3108
Sup: 3018; 3000; 2974; 2956