Gold prices are trading flat as markets open in Europe, approximately one per cent below last week's highs but comfortably above the key psychological level of $3,000. There has been an improvement in risk appetite across financial markets, following reports that the US administration may be less aggressive than initially feared in applying reciprocal tariffs, easing concerns of a worst-case scenario for global trade. Meanwhile, the US dollar's recovery, which followed last week's Fed meeting, appears to have lost momentum — a positive development for gold bulls. Against this backdrop, gold prices are likely to remain stable in the short term, supported above the $3,000 level.
Ricardo Evangelista – Senior Analyst, ActivTrades
Source: ActivTrader
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