XAU / USD trend forecast February 4, 2025
Gold prices surged to a record high on Monday after the US announced initial tariffs on Canada, Mexico, and China, boosting demand for the metal’s safe-haven appeal. As of now, XAU/USD is trading at $2,821, up 0.87% from its opening price.
Despite an improved market sentiment, gold continues to hold onto its previous gains. Since US President Donald Trump took office, tariffs have played a key role in driving market movements. The US Dollar started the week strong after implementing 25% tariffs on two major trading partners and a 10% tariff on China.
Gold still has great growth momentum as USD and gold become current safe investments.
/// SELL XAU : zone 2847-2850
SL: 2855
TP: 50 - 150 - 300pips (2820)
Safe and profitable trading