Gold Hits New Highs –Will Tariff Tensions Push It Toward $3,000?

Gold (XAU/USD) Technical Analysis – February 19, 2025
Gold continues its bullish momentum, hitting a new all-time high, driven by safe-haven demand amid trade war tensions and economic concerns. U.S. President Donald Trump’s announcement of a 25% tariff on autos has fueled further upside, along with expectations that central banks will continue buying gold to diversify reserves.

Investors are also watching the Federal Reserve’s meeting minutes, which could impact short-term market sentiment. However, any bearish impact from today’s FOMC minutes release is expected to be short-lived, keeping gold's bullish outlook intact.

Technical Outlook
Bullish Scenario: Gold remains bullish above 2,935, with the next upside targets at 2,956 and 2,974.
Bearish Scenario: A break below 2,935 could lead to a retest of the 2,920 breakout zone. Further weakness below this level may push the price toward 2,909 and 2,895.

Key Levels to Watch
🔹 Pivot Point: 2,935
🔹 Resistance Levels: 2,956, 2,974
🔹 Support Levels: 2,920, 2,909, 2,895

📈 Directional Bias: As long as gold trades above 2,935, the bullish trend remains dominant, targeting 2,956+. A break below 2,935 could trigger a correction before resuming the uptrend.

💬 Will gold push toward $3,000 on tariff tensions, or will we see a pullback first? Drop your thoughts! 👇🔥