Gold price movements today

At the basic level

Gold prices fell at the beginning of trading on Thursday to the levels of 3245 dollars per ounce after the trade court blocked Trump's tariffs.

The court had suspended Trump's tariffs on Wednesday, canceling the duties that sparked a global trade war and threatened an economic slowdown.

The court's decision on tariffs weakens some of the attractiveness of gold as a safe haven, raises some doubts, and the rise of the US dollar adds pressure on gold.

However, gold still protects against other forms of uncertainty, and its attractiveness looks strong, resulting in a rise again after such pullbacks.

Gold at the technical level

Gold initially retreated as our expectations were and did selling from the second buy levels near the levels of 32445/50 dollars per ounce, achieving more than 350 profit points so far, rebounding from the lower limit of the descending channel and trying to reach the upper limit of the descending channel near the levels of 3300/10 dollars per ounce.

Caution is currently required and we can buy gold in case it breaks through the levels of 3325 dollars and closes higher.

Or in case he makes some bearish corrections again around 3265/60 dollars per ounce.

The bullish scenario fails if the USD 3240 levels break down.