Last week, the gold market witnessed a thrilling bullish rally, with prices surging $298 in just one week, ending firmly with a strong and dominant bullish candlestick. This powerful candle completely engulfed the upper shadow of the previous week’s inverted hammer, vividly showcasing the bulls’ absolute control in the market. Among the many complex factors influencing gold prices, tariff news acts like a “visible hand,” tightly gripping the pulse of the market. As things stand, if tariff policies tighten further, global risk-aversion sentiment will likely reignite, pushing gold prices to continue their strong rally. Conversely, if signs of easing in tariff policies appear, the gold market could rapidly reverse, potentially leading to a sharp or even dramatic decline. Therefore, this week’s key driver for gold prices undoubtedly hinges on even the slightest shift in tariff-related news.
Gold Strategy Today: Focus on buying during pullbacks, with short-selling on rebounds as a supplement. Watch resistance around $3,255 and support around $3,225.
Trump announced a 90-day suspension on high tariffs for most countries, but raised the total tariff rate on a major Asian nation to 145%, reigniting concerns about global trade relations. U.S. WTI crude oil futures fell $2.28 to close at $60.07 (-3.7%), and Brent crude dropped $2.15 to $63.33 (-3.3%), giving back the previous day’s gains. The market initially rebounded on Trump’s tariff pause, but the renewed drop reflects investors’ loss of confidence in the credibility of these policies. Behind current oil price fluctuations lies deep anxiety over the extreme uncertainty in global trade policy. Though Trump’s “pause-then-escalate” tactic may temporarily ease tensions with non-China economies, it also undermines global supply chain and energy demand confidence. If oil inventories keep rising and global manufacturing data remains weak, oil staying below $60 may become the new normal.
Oil Strategy Today: Focus on short-selling during rebounds, with buying on pullbacks as a supplement. Watch resistance around $62.4 and support around $59.4.