CryptEx USD Price & Performance (CRXUSD)

Gold prices are experiencing downward pressure as markets grapple with rising tariffs, geopolitical instability, and recessionary concerns. The precious metal remains volatile ahead of the U.S. inflation data release, which could further influence its trajectory. Technical indicators suggest mixed signals, with resistance levels at $2,924 and support around $2,870.12

Conflicting messages from the U.S. administration regarding tariffs have added to market uncertainty. While gold reached a record high of $2,956 recently, it has struggled to maintain momentum. Traders are closely watching for signs of a breakout past $3,000 or a potential pullback amid ongoing economic concerns.23

The upcoming U.S. inflation report is expected to play a critical role in shaping gold's market direction. With inflationary pressures mounting, gold could benefit as a safe-haven asset. However, resistance near $2,930 and support at $2,890 may determine its near-term movement.14