Market Analysis for Today

Gold price slides late on Friday, poised to end the week positively, accumulating eight straight weeks of gains that pushed the yellow metal to all-time highs of $2,954. At the time of writing, the XAU/USD trades at $2,940, down 0.15%.

The financial markets' narrative has not changed as US President Donald Trump continues with rhetoric related to tariffs. In addition to imposing 25% tariffs on cars, pharmaceuticals and chips, Trump broadened duties to lumber and other soft commodities.

Gold opened at around 2938 and rose to around 2949at the highest and around 2937 at the lowest before press time.Pay attention to the resistance of 2960-2970-2980 If it fails to break through, it will test 2910-2900-2890