Gold extends its record breaking rally ahead of Trump's reciprocal tariffs taking effect on Wednesday

Economic concerns, stemming from U.S. President's reciprocal tariffs going into effect on 2nd April, pushed Gold prices to another record high of $3149 for the fourth day in a row. President Donald Trump is adamant about unveiling extensive tariff plans targeting more than 10 nations having largest trade imbalances with the U.S. Aimed at boosting American manufacturing industries, these reciprocal tariffs will be implemented on America's Liberation Day but the economists worry about the plan backfiring as the tariffs are going to trickle down to U.S. consumers which might hurt their confidence. 
Investors flock to the safe haven asset Gold as Trump's policies raise odds of a recession in the country eventually weighing down on US Dollar. 

XAU/USD TECHNICAL OVERVIEW 

After a minor pullback on Monday's New York session, Gold prices ticked up to $3145-$3149, sticking to bullish biasness. Intraday sentiment remains positive as prices sustain above breakout level of inverted head and shoulder pattern, favouring buying on supports. Further consolidation might lead the prices towards $3164.

Gold Structure: Bullish Candle on Daily, Breakout from Inverted H&S on 4hr, Breakout from Flag on 1hr.

Intraday Strategy/ Intraday Trend: Buy on Supports, Buy on Breakouts/ Bullish

Weekly Trend: Extremely Bullish

Major Resistance: 3164, 3184, 3200

Major Support: 3135, 3128, 3115