Gold stabilizes below its new record high, supported by robust safe-haven demand

Gold remains in a tight consolidation on Tuesday, stabilizing above $2800 after Monday’s volatile session driven by U.S. tariff developments.

Despite a sharp dip, the metal quickly rebounded to a new all-time high, reinforcing strong safe-haven demand.

Investor concerns persist as the U.S.-China trade war appears set to escalate, with China unveiling countermeasures following President Trump’s decision to delay tariffs on Canada and Mexico.

Fears over trade war repercussions—including market instability, supply disruptions, rising inflation, and slower economic growth—are expected to keep gold supported.

A sustained daily close above $2800 would strengthen bullish momentum, confirming a breakout above the bull-channel trendline resistance.

Key upside targets include $2849 and $2886 (Fibonacci projections at 123.6% and 138.2%), with a stronger rally potentially paving the way for the psychological $3000 mark.

On the downside, $2800 has turned into immediate support, followed by $2785 (Jan 24 high) and $2771 (Monday’s spike low / bull-channel trendline support).

Res: 2830; 2849; 2886; 2900
Sup: 2800; 2785; 2771; 2758