Gold Eases from Record Highs but Safe-Haven Demand Remains Strong Amid U.S.-China Tensions

In a classic case of "buy the rumor, sell the news," Gold (XAU/USD) saw a modest pullback on Thursday as traders locked in profits following an explosive rally that pushed prices to record highs earlier in the week. The yellow metal, which touched highs around $3,357, is now hovering near $3,332, with immediate support at $3,320.85.

While the price eased slightly, the fundamentals remain overwhelmingly bullish.

Markets continue to digest fresh developments from the United States, where President Donald Trump has reignited trade tensions by announcing a sweeping probe into potential new tariffs on all critical mineral imports. This comes on top of existing reviews on pharmaceutical goods and the recently tightened restrictions on chip sales to China.

These geopolitical risks—combined with economic uncertainty—have reinvigorated gold’s safe-haven appeal. Investors are seeking refuge in tangible assets, and gold continues to shine brightly as the go-to hedge.

On the technical side, gold broke out of a consolidation triangle before facing resistance at $3,357. A hold above $3,320 could offer bulls another opportunity to challenge recent highs. A drop below this level, however, might trigger a correction toward $3,287 support.