Gold Market Analysis:
On Monday (March 31), during the U.S. trading session, gold prices surged strongly and are currently hovering around $3,124. Analysts believe this rally is driven by increased safe-haven demand due to concerns over U.S. tariff policies. Fears that President Donald Trump’s tariff plans could escalate a global trade war and slow down economic growth have pushed gold to an all-time high. This rally is also on track for the biggest quarterly gain in over 38 years, further boosting gold’s appeal. The U.S. dollar index dropped by 0.2%, making gold, priced in dollars, more affordable for foreign buyers.
Traditionally viewed as a hedge against political and economic uncertainty, gold has risen over 18% this quarter—the biggest quarterly increase since September 1986. Lately, gold has been on a steady uptrend as traders seek refuge amid stagflation risks. In fact, U.S. inflation expectations have risen, while growth forecasts have been revised downward. Worse-than-expected economic data surfaced last Friday when the final University of Michigan survey revealed a sharper-than-anticipated drop in consumer confidence, with long-term inflation expectations also revised higher.
Meanwhile, major banks continue to raise their gold price targets, fueling strong market sentiment. However, technical indicators show signs of overbought conditions—so what key signals should traders watch for? As the week begins, safe-haven sentiment has surged sharply, significantly benefiting precious metals. President Trump confirmed that reciprocal tariffs on all countries will take effect on Tuesday, dashing any hopes for last-minute easing. As the deadline approaches, market tensions have risen sharply.
At the same time, major banks remain optimistic about precious metals. Goldman Sachs has significantly raised its gold forecast, predicting prices to reach $3,300 by the end of the year. According to the bank’s analysis, stronger-than-expected central bank demand and robust inflows into gold-backed ETFs are key factors supporting prices. On Monday, U.S. Treasury yields gapped lower, approaching March’s 4.172% low. Market data suggests that gold pricing has not become more expensive but rather more affordable, indicating that the current high levels may become the new norm, with further upside potential ahead.
Gold Trading Strategy for Today:
- Primary Strategy: Buy on dips
- Secondary Strategy: Sell on rebounds
- Key Resistance: $3,155
- Key Support: $3,125
Crude Oil Market Analysis:
On Monday (March 31), during the U.S. trading session, international crude oil prices surged strongly, currently trading at $71.44 per barrel. Recently, U.S. President Trump commented on the possibility of imposing new tariffs on Russian oil, triggering strong market reactions. Trump stated that he does not believe Putin would “break his promise,” slightly softening his previous aggressive rhetoric. Earlier, he had expressed being “very angry” at Russian President Vladimir Putin and had considered imposing secondary tariffs on Russian oil.
Although Trump’s stance has somewhat softened, the market remains concerned about his tariff threats. The Brent crude June contract opened slightly higher but later dropped to around $72 per barrel, while West Texas Intermediate (WTI) crude remained around $69 per barrel.
Crude Oil Trading Strategy for Today:
- Primary Strategy: Sell on rebounds
- Secondary Strategy: Buy on dips
- Key Resistance: $72.9
- Key Support: $69.9
⚠ Trading requires caution—strategies are for reference only.
