XAU/USD: Gold Jumps to Record at $3,080 as Trump Tariffs Heat Up Global Trade Anxiety

Precious metal continues to scale record highs but there’s a strong resistance lying in the near term. Can bulls take out $3,090?

💥 Bullion Breaks $3,080

• Gold prices XAUUSD pumped to a new all-time high of $3,080 per ounce early Friday morning, extending Thursday’s run. Bullion traders felt the sudden rush to snap up more of the yellow metal after Donald Trump appeared determined to impose his hard-line tariffs that could rewrite decadeslong global trade policies.
• The auto space is the newest sector to be hit by Trump’s punishing tariffs — a 25% duty is about to take effect on April 3. But before that, a sweeping tariff agenda will be revealed. What’s that about?

📢 Tariff Deadline Nears. Gold In There?

• April 2 is the deadline that keeps traders and investors on edge. That’s when the White House will release its list of countries and tariffs where each country will find out the hand it’s been dealt. Will this be divided into sectors or industries? Will there be exemptions? And — what gold bugs want to know — will gold be in there?
• The prospect of gold getting slapped with a tariff is what’s causing the massive buying right now. From central banks to large investors to US dealers, everyone is rushing to grab more gold before Trump decides to add it to his list.

🚀 Technicians, We Ride at Dawn?

• Enough about that, let’s dive into the technicals. Gold’s upside swing is looking into a potentially solid resistance at the $3,090 mark. That’s where the ascending channel (seen on the daily chart) is about to connect and potentially trigger the bears’ response who might try and pressure the price back within the trend.
• If that level is taken over by the bulls, then we might see some consolidation around the $3,100 threshold — a fresh new record but also a psychological milestone where lots of shorts might be waiting to get executed.