Gold prices edged lower in the morning Today as the U.S. dollar ticked up, though escalating trade tensions following President Donald Trump’s tariff announcements kept losses in check due to sustained safe-haven demand.
Spot Gold inched 0.2% lower $2,912.0 per ounce, while Gold Futures expiring in April gained 0.1% to $2,922.72 an ounce
Trump imposed 25% tariffs on Canadian and Mexican goods on Tuesday and raised tariffs on Chinese imports to 20%. In response, Canada imposed 25% tariffs on C$30 billion worth of U.S. imports, while China levied 15% on U.S. agricultural goods like chicken and wheat and 10% on soybeans and pork.In his congressional speech, Trump reaffirmed plans for reciprocal tariffs, set to take effect on April 2. The move could further escalate trade tensions.These tariffs are expected to strengthen the dollar, as investors seek the relative safety of the world’s primary reserve currency amid global economic uncertainty.
Intraday Trend : UP
Expecting correction up to 2906.40
Trading Strategy for today: Buy On Dip
Pivot Points : 2982.31, 2955.03, 2936.37, 2909.09, 2890.43, 2863.15, 2844.49
Trade setup
Pullback Buy around 2906.50 Deeper Buy around 2897.50
Safe swing sell below 2893.50
Safe swing buy above 2917.50
Important Event
🔴 ADP Non-Farm Employment Change
🟠 Final Services PMI
🔴 ISM Services PMI