Investors Turn to Gold as Tariff Tensions PersistGold is trading near $3,330 on Friday and is on track to record its third consecutive weekly gain. The increase in prices is primarily driven by heightened safe-haven demand, as uncertainty surrounding a potential U.S.-China trade agreement continues to weigh on investor sentiment. Although Chinese officials have publicly denied the continuation of negotiations, President Trump stated that discussions are still in progress. Adding to the cautious outlook, U.S. Treasury Secretary Scott Bessent emphasized that any progress would depend on the reduction of existing tariffs, reinforcing market skepticism about a near-term resolution.
Key resistance is at $3410, followed by $3,500 and $3,600. Support stands at $3315, then $3290 and $3250.
