ColossusXT USD Price & Performance (COLXUSD)

Gold prices are experiencing downward pressure as geopolitical uncertainties and rising tariff concerns weigh on market sentiment. The precious metal has struggled to maintain momentum above key resistance levels, with traders anticipating U.S. inflation data later this week, which could further influence gold's trajectory.1

Gold remains supported above $2,900 as tariff uncertainties drive safe-haven demand. However, analysts suggest that higher U.S. interest rates could cap gains, given gold's non-yielding nature. The market continues to eye potential tariff implementations and their impact on inflation, which might shape the Federal Reserve's rate decisions.2

Gold prices touched a record $2,956 before retreating as traders booked profits. The rally was fueled by fears over impending U.S. tariff hikes, but momentum has slowed. Market participants now watch for a potential test of the $3,000 level, with volatility expected to persist in the near term.3