Gold Steadies Near Record High as Markets Await Trump’s Tariff Announcement

Gold prices returned to $3,120 on Wednesday after its record-breaking $3,149 close from the day before. Traders are waiting carefully for President Trump to make public his new import tariff rules during his White House press event.

The metal market paused its growth because investors wait to see how Trump will handle important policy decisions. According to analysts the market could start selling gold before and after Trump announces his trade policies to prevent disappointment.

Market strategist Jane Harper states “The main force driving gold prices forward is about to become public knowledge.” When these type trade agreements start working traders may move out of position collecting profits while cancellations happen.

Traders watch the released ADP employment figures because these numbers predict the Nonfarm Payrolls results which are due on Friday. The government department working toward efficiency created business opportunities which economists believe generated 105,000 new private-sector positions in March while taking ScreenState 77,000 employees from public to private businesses.

Technical analysis indicates several key price levels to watch:

• Resistance: $3,141 (daily R1), followed by the all-time high of $3,149
• Further upside potential: $3,169 (R2 resistance) with broader target at $3,200
• Support: $3,093 (S1) and $3,073 (S2) which should prevent gold from falling below $3,000