Gold (XAU) Silver (XAG) Daily Forecast: All-Time High for Gold as Tariff Risks Mount

Market Overview

Gold prices rallied to an all-time high of $3,085 during Friday’s Asian session, as rising trade tensions and expectations of monetary easing fueled investor appetite for safe-haven assets.

The rally comes in the wake of U.S. President Donald Trump’s announcement of a new 25% tariff on imported cars and light trucks, set to begin in April. This policy, alongside existing tariffs on metals, has intensified global economic uncertainty, prompting renewed flows into gold.

“Investors are seeking shelter in gold as the landscape becomes increasingly unpredictable,” said a commodities analyst at a Singapore-based trading firm. Market participants are now weighing the risk of retaliatory trade measures, which could dampen global demand and weigh on risk assets.

Silver Supported by Weak Dollar and Fed Bets

Silver prices remained resilient, trading at $34.29 after dipping to an intraday low of $34.16. While less volatile than gold, silver is also benefiting from the weaker dollar and speculation of near-term interest rate cuts. Despite U.S. Q4 GDP growth of 2.4% and initial jobless claims falling to 224,000, the greenback struggled to gain traction, keeping silver buoyant.

Market focus has shifted to the Federal Reserve’s policy path, particularly following remarks from Boston Fed President Susan Collins, who noted that elevated trade barriers could stoke inflation. Richmond Fed President Tom Barkin echoed concerns, suggesting the central bank may need to maintain a cautious stance on monetary policy despite solid headline data.

PCE Inflation Data in Focus

All eyes are now on the upcoming U.S. Personal Consumption Expenditures (PCE) Price Index, the Fed’s preferred inflation gauge. A softer-than-expected print could reinforce expectations of a rate cut by June, lending further support to gold and silver.

With geopolitical uncertainty and softening inflation dynamics at play, analysts expect precious metals to remain well-supported in the near term, especially if the Fed signals greater flexibility in its policy stance.

Gold Prices Forecast: Technical Analysis

Gold (XAU/USD) is holding firm at $3,080.03, nudging 0.20% higher on the day and continuing to build on its recent bullish momentum. The metal remains comfortably above its pivot point at $3,059.03 and the 50 EMA at $3,036.48, both of which offer solid technical support.

The broader structure shows price action moving within a rising channel, a sign that buyers are still in control. Immediate resistance lies at $3,097.26, with a stronger ceiling around $3,119.47.

On the downside, watch $3,033.39 and $3,002.69 as key support zones. As long as gold stays above the pivot, the trend favors the bulls—but a break below could shift sentiment quickly.

Silver (XAG/USD) Price Forecast: Technical Outlook

Silver (XAG/USD) is trading at $34.43, up 0.31%, after breaking out of a symmetrical triangle pattern—a sign of renewed bullish momentum. The move above the pivot point at $34.17 and the 50 EMA at $33.80 suggests buyers are in control. The breakout has cleared immediate resistance, with the next targets at $34.50 and $34.93.

On the downside, $33.87 and $33.51 serve as key support if the rally falters. Price action remains supported by the 200 EMA at $33.28, and the broader structure favors further upside, especially if silver holds above the breakout zone.