Gold Price Forecast: XAU/USD Targets $3,365 and $3,415 as Dollar Weakness Persists

Gold Continues Bullish Run as Trade Tensions and Fiscal Fears Hammer the US Dollar

The Gold price (XAU/USD) continues its upward trajectory on Monday, surging nearly $60 intraday to trade around $3,359, as the US Dollar (USD) faces intense pressure amid trade disruptions, debt worries, and weaker risk sentiment.

Trump’s Tariff Hike Fuels Market Uncertainty

Last Friday, President Donald Trump announced a doubling of tariffs on steel and aluminum imports, reigniting fears of a trade war. Adding to the tensions, the White House also criticized China over critical mineral trade, signaling a potential new front in economic hostilities.

US Fiscal Concerns and Fed Outlook Lift Gold

Investor sentiment has further shifted toward safe-haven assets like Gold due to concerns about the US’s worsening fiscal trajectory. The proposed tax-cutting legislation, combined with soaring national debt, has intensified worries about future stagflation—a blend of slow growth and high inflation.

The anticipation of a dovish Federal Reserve, with markets closely watching Chair Jerome Powell's speech and the ISM Manufacturing PMI, adds more fuel to Gold’s rally.

XAU/USD Technical Outlook – Next Resistance at $3,365 and $3,415

With the XAU/USD pair now trading above key resistance at $3,325, the next bullish targets are set at $3,365 and $3,415. A break above these levels could open the path to retesting March’s year-to-date highs near $3,460.

Suggested Internal Links for Tredu.com

• Live XAU/USD Chart
• US Dollar Analysis
• Fed Interest Rate Forecast
• Precious Metals News