On Tuesday (April 15), spot gold traded around 3211.44. Gold prices fell on Monday, hitting an all-time high of 3245.51 earlier in the session before retreating as risk sentiment improved after the White House exempted smartphones and computers from high tariffs. Although tariff exemptions have weakened some of the safe-haven demand, trade uncertainty, a weak dollar and falling Treasury yields still provide support

The Trump administration's tariff policy has fluctuated violently like a roller coaster, bringing great chaos to the market. In this chaos, gold has become a clear winner, with prices reaching an unprecedented $3,245 per ounce. In this epic asset pricing reconstruction, gold is standing at a historical crossroads. On one side is the short-term selling pressure caused by improved risk sentiment, and on the other side is the long-term support of the shaky dollar system and increased policy uncertainty.

At the gold daily level, the price begins to gradually deviate from the short-term moving average, and there may be a risk of a short-term correction and decline. Of course, it may also be that it is just consolidating in a high sideways range instead of correcting. If the price adjusts, the primary support is 3190-3180, followed by the short-term MA5-day and 10-day support. At that time, you can combine the Fibonacci segmentation to find the resonance point support to look up, or it may be a band bullish opportunity.

At the gold hourly level, since the previous period was a strong trend, it is easy to fill the gap if it opens low first. You can continue to test the key channel upper track in the figure. Here, it is suggested to suppress and then look at the decline. Today, pay attention to the support above 3200 for lows and bullish. The channel counter-pressure point moves up to 3247-3250. If it still cannot be suppressed here, it will fall back on highs and treat it as a high-level consolidation; if it cannot hold 3200, pay attention to the stabilization of the support near the 66-day moving average of 3180-3190.

Disclaimer: The article is contributed by the market analyst from Bitop market observation team. The content is solely for personal opinions and sharing. The analysis is time-sensitive and provided for reference and discussion only. It does not constitute any investment advice. The market is risky, so investing should be done cautiously.