Gold stays firm after achieving a fresh monumental high of $3000.

Even after sharply drawing back from its new all time high level of $3000, Gold holds its ground above $2985. Repetitive tariff threats from US President Trump on USA's major trading partners have amplified economic concerns. Recently, EU had announced retaliatory tariff package after USA imposed duties on European steel and aluminium. In response to the retaliatory tariffs, Trump threatened to slap 200% tariff on European alcohol. Gold prices continue to draw support from escalating global trade war fears. Not to mention, upcoming FOMC meeting on Wednesday could play a pivotal role in price movement as investors keenly wait for a policy shift. If the Fed sticks to a contractionary approach, the US Dollar could fetch some support eventually acting as a headwind for the yellow metal. 
Traders should stay cautious of some profit booking that can happen anytime. From a technical perspective, a doji candle after an upsurge in prices on the daily chart coupled up with a Head and Shoulder pattern on 1H signal short term bearish momentum. If gold price breaks below the neckline at $2980, it could further decline to $2970 with the next crucial support lying at $2958. 
On the upside, if Gold price sustains above $2998, it can breach the $3000 level making more room for a new high. 

Gold Structure: Bullish Candle on Weekly, Doji on Daily, H&S on 1hr, Breakdown of Bear Flag on 15Mins.

Intraday Strategy/ Intraday Trend: Sell on Rise, Sell on Break of Supports till 2994, Above 2994 again strong.

Weekly Trend: Extremly Bullish

Major Resistance: 2988, 2994, 3005

Major Support: 2981, 2976, 2963