INSUBCONTINENT EXCLUSIVE:
Gold prices settled at $3,101.31 on Friday morning, dropping 0.24% from the previous close as traders assessed the impact of new United
The precious metal experienced extreme volatility over the past 24 hours, according to the latest NYMEX trading data.Gold surged to an
unprecedented high of $3,167.57 on Thursday after President Trump announced sweeping import tariffs
baseline tariff on all United States imports and higher rates targeting specific trading partners
The announcement triggered immediate flight to safety assets before a broader market correction emerged.The NYMEX chart reveals a clear
picture of the dramatic price action
Gold prices moved sideways in early April trading before the explosive upward movement on April 3rd
The subsequent selloff pushed prices below several technical support levels.Market experts attribute the pullback to profit-taking and
Traders needed to cover margin calls in other markets following the tariff-induced volatility.Gold Retreats from Record High as Markets
(Photo Internet reproduction)This technical selling pressure overwhelmed the fundamental factors supporting gold
The price action shows gold now trading below its short-term moving averages.Gold Holds Ground Amid Market VolatilityTechnical indicators
suggest potential near-term weakness despite the strong underlying fundamentals
Support levels have formed around $3,090, with resistance at $3,110-3,120.Asian markets maintained active gold trading despite holidays in
China, Hong Kong, and Taiwan
Spot prices held relatively steady around $3,112 per ounce in early Asian hours before the current pullback.Indian markets displayed
resilience with 24-carat gold priced at Rs 93,390 per 10 grams
Turkish markets showed significant strength with prices starting at ?3,838 per gram on April 3.Fundamental factors supporting gold remain
Central banks continue aggressive purchasing while geopolitical tensions escalate
Major financial institutions including HSBC, UBS, and Goldman Sachs have raised their price targets
His comments could provide crucial insights into potential monetary policy responses to the changing economic landscape.The tariff-induced
Despite short-term fluctuations, the metal continues to demonstrate its fundamental role as a store of value.
