Gold (XAU/USD) Stalls as Trade War Jitters Keep Traders on Edge

Gold prices (XAU/USD) remain trapped below record highs as Monday’s early session reveals a market caught between hope and hesitation. Despite attempts to rally, gold is struggling near a key resistance zone around $3,370, while support holds firm at $3,263. A clear descending trendline continues to cap upside momentum, and the formation of a rising wedge pattern hints at a potential bearish breakdown if buyers fail to push past the descending resistance.

The market remains highly sensitive to the ongoing US-China trade discussions. Conflicting signals from Washington and Beijing have created an atmosphere of uncertainty, preventing gold from making a decisive breakout or breakdown. Traders are now closely watching for any concrete updates that could tip the balance.

Key Levels to Watch: