Gold price forecast (XAUUSD) retreated on Thursday after reaching an all-time high of $3,167.84, as traders secured profits following the metal’s sharp rally. The initial surge was fueled by safe-haven demand due to U.S. President Donald Trump’s latest tariff strategy. However, price action weakened intraday, raising questions about the rally’s sustainability.
Gold has gained 19% in 2025, supported by economic uncertainty, record central bank purchases, and continuous ETF inflows. Despite Thursday’s pullback, the broader trend remains intact, though a short-term correction may be developing.
Did Trump’s Tariffs Spark the Gold Price Forecast Rally or Accelerate It?
Trump’s announcement of a 10% tariff on nearly all imports unsettled risk assets and heightened concerns about slower growth and rising costs. Investors swiftly moved into gold, but the White House later clarified that key commodities, including gold, copper, and energy, would be exempt. This statement eased supply chain worries and alleviated some physical market pressure.
Despite this, analysts caution that these tariffs add a new layer of uncertainty. “Higher costs, weaker trade, and tighter margins are hitting equities hard, while geopolitical tensions are intensifying,” said Adrian Ash of BullionVault.
Key Technical Levels to Watch
Gold price forecast short-term range is established between the $2,999.46 low and the $3,167.84 high. The immediate downside focus is on the $3,083.65 pivot level. A breakdown below this level could lead to a test of the 50% retracement of the latest rally, which sits at $3,000.28.
A daily close below $3,083.65 could indicate a 2 to 3-day corrective move. However, a decisive breakout above $3,167.84 would confirm bullish momentum, likely driving prices toward $3,200. Analysts at ANZ support this outlook, citing strong institutional demand and geopolitical risks.
Is Sentiment Still Favoring Higher Gold Prices?
Market sentiment remains robust. “Calling a peak at record highs is challenging,” said independent analyst Ross Norman. “But the fact that every dip is being aggressively bought confirms strong bullish sentiment.”
Gold Price Outlook: Buy-the-Dip Strategy Still in Play
While a short-term correction is possible, the broader trend remains bullish. With central banks continuing their gold accumulation and risk sentiment deteriorating, the $3,000–$3,050 range is expected to attract strong buying interest. A confirmed breakout above $3,167.84 would signal renewed upside potential, reinforcing the long-term uptrend. Traders should remain bullish while monitoring key support and resistance levels.
For further insights, visit our Daily Gold Signal.
