Where do gold prices go after a global decrease and improve the mood of the market?

Gold prices fell to the third consecutive session, affected by the improvement of market morale after news about the United States’s tendency to impose mutual customs duties targeting only a limited number of its commercial partners, according to the American “FXSTREET” platform.
Gold price today
The instant gold price recorded a decrease of 0.67% to $ 3002 an ounce, approaching the breaking of the important psychological barrier of $ 3,000, in light of increasing pressure from the strength of the US dollar and the high returns of treasury bonds.
The performance of the American markets and the impact of the dollar
The Wall Street Stock Exchange is witnessing positive trading, while the rise of the US dollar index by 0.20% to 104.35 points reduced the attractiveness of gold as a safe haven. The increase in the return of US Treasury bonds for 10 years, by 8 basis points, reached 4.331% to reducing the demand for alloys.
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The Trump administration targets less commercial partners
A report published by Bloomberg reported that the administration of US President Donald Trump intends to impose new customs duties as of April 2, but these fees will not include all countries, but will be limited to what is known as “fifteen trade partners”, in a move that reflects a less escalating trend.
The largest American trade deficit
According to Wall Street Journal, based on last year’s data, the United States records the largest commercial deficit in goods with a number of major partners, including China, the European Union, Mexico, Vietnam, Taiwan, Japan, South Korea, Canada, India, and Thailand, along with other countries such as Switzerland, Malaysia, Indonesia, Cambodia and South Africa.
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Various economic indicators
Standard & Poor’s Global data revealed the variation of the performance of the American economy, as the initial industrial purchasing managers index showed a contraction to 49.8 points, down from 52.7 points, while the services sector index rose from 51.0 to 54.3 points, exceeding 50.8 expectations.
This contrast reflects the continued weakness of the industrial sector, while the services sector maintains its positive momentum.
Gold pressure
The revenues of the cabinet protected from inflation increased for 10 years by two basis to 1.980%, which constituted additional pressure on gold, in light of the opposite relationship between them. This comes in parallel with the dollar continuing to rise against the main currency basket.
One reduction only for interest
The head of the Federal Reserve in Atlanta, Rafael Posic, said that he supports only one reduction in interest rates this year, suggesting that inflation will continue to be over the target level until 2027. He added that inflation will remain volatile during the coming period.
For its part, the market is 62.5 basis points of cash facilitation in 2025, which reflects a cautious anticipation of the upcoming federal moves.
Gold price expectations between support and resistance
Analysts believe that the emerging trend of gold prices is still existing despite the reaping of the last profits. They point out that the drop in gold below $ 3,010 may pay to test main support levels, most notably $ 2956 (the highest level of its record on February 24), 2900 dollars, and $ 2874 (moving average for 50 days).
In the event of price steadfastness over $ 3,000, potential resistance levels include $ 3047 (peak March 21), $ 3057 (the highest level since the beginning of the year), and $ 3100 (the following psychological level in investors).