Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests New Highs As Traders Stay Bullish
News Summary
Gold prices continue to rise, attempting to settle above the $3400 level, driven by President Trump's decision to impose a 50% tariff on Indian goods. A successful breach of this level could push gold towards the $3440-$3450 resistance zone. Silver managed to rebound from session lows, climbing back above $38.50, but needs to settle above $39.00 to gain additional upside momentum in the near term. Platinum remains stuck below the key resistance level of $1345-$1350, lacking strong catalysts for further upward movement. If it settles above $1350, it could move towards the next resistance at $1400-$1405.
Background
Following his re-election in the 2024 U.S. presidential election, President Donald J. Trump's
In-Depth AI Insights
What are the true strategic intentions behind the Trump administration's 50% tariff on Indian goods? Is this purely protectionism, or are there deeper political or geo-economic considerations? - While ostensibly trade protection, the unusually high 50% tariff could be a coercive measure to pressure India into concessions within broader regional security or economic alliances, especially in the context of the Indo-Pacific strategy. - This move might also signal a reaction to India's growing economic influence in key sectors (e.g., manufacturing, tech exports), aiming to slow its ascent or compel policy adjustments to align with U.S. interests. - Furthermore, it could solidify Trump's domestic support for a