Gold Price Reaches New All-Time High
On 19 March, we noted that gold had surpassed $3,000 per ounce for the first time ever and suggested this key psychological level might be tested.
As illustrated on the XAU/USD chart, the price briefly dipped below $3,000 before rebounding swiftly. Based on the Smart Money Concept methodology, this could have been a liquidity sweep triggered by stop-loss orders positioned below the psychological threshold. Regardless, the test took place (as shown by the arrow), and the bullish momentum continued. Gold has now set a fresh record high at around $3,080, with the potential for further gains today.
Why Is Gold Climbing?
Market uncertainty surrounding Trumps proposed tariffs
Growing expectations of interest rate cuts
Gold has long been considered a safe-haven asset during economic and political instability and tends to thrive in a low-interest-rate environment. Goldman Sachs analysts have raised their year-end 2025 gold price forecast to $3,300.
XAU/USD Technical Outlook
Examining the broader trend, golds price continues to move within an ascending channel (marked in blue), which has remained intact since early 2025.
An alternative perspective suggests a second, shallower rising channel (marked in purple), where gold is currently testing the upper boundary. This signals the possibility of a pullback, though the $3,056 levelpreviously a resistance pointmay now serve as support, potentially setting the stage for a climb towards the $3,100 mark.
Read more: https://fxopen.com/blog/en/oa-gold-price-hits-record-high/
Text source: Forex Trading Blog
