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Gold Rebounds Amid Tariff Truce, Eyes Technical Breakout
Gold Rebounds Amid Tariff Truce, Eyes Technical Breakout
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Gold prices climbed to $3,266 on Tuesday as investors capitalized on a week-long selloff. The rebound followed a tariff truce between the US and China, which saw tariffs slashed from 145% to 3%. Fed officials hinted the deal might reduce urgency for rate cuts, though markets still price in a September easing.
Technically, Gold is testing a descending channel breakout. Key support and resistance levels are in focus as traders weigh macroeconomic shifts against chart patterns. The metal’s resilience underscores its role as a hedge amid fluctuating trade tensions and monetary policy expectations.
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