Gold price posts modest gain amid trade war concerns

The Gold price (XAU/USD) recovers some lost ground after reaching a one-week low in the previous session. The uncertainty and ongoing fears of instability around US President Donald Trump's tariff plans provide some support to the yellow metal, a traditional safe-haven asset. 

Nonetheless, analysts believe that Trump’s plans for higher tariffs have raised inflation worries at the US Federal Reserve (Fed), which might convince the US central bank to keep interest rates higher for longer. This, in turn, might cap the upside for the precious metal as higher interest rates tarnish non-yielding gold's appeal.

Gold Structure: Bearish Engulfing on Daily, Shooting Star on 4hr, Bear Flag on 15 Mins.

Intraday Strategy/ Intraday Trend: Sell on Rise, Sell on Break of Supports.

Weekly Trend: Positive

Major Resistance: 2920, 2925, 2930

Major Support: 2911, 2905, 2896.