• Silver price loses ground to around $30.90 in Monday’s early European session, losing 1.30% on the day.
• The positive view of silver prevails above the 100-period EMA with a neutral RSI indicator.
• The initial support level is located at $30.60; the immediate resistance level is seen at $31.72.

The Silver price (XAG/USD) tumbles to near $30.90 during the early European trading hours on Monday. The mounting fears of a global trade war following US President Donald Trump’s sweeping tariff measures boost the US Dollar (USD) broadly and exerts some selling pressure on the white metal.

According to the 4-hour chart, the bullish outlook of the white metal remains intact, with the price holding above the key 100-period Exponential Moving Averages (EMA). Nonetheless, the Relative Strength Index (RSI) hovers around the midline, suggesting that further consolidation cannot be ruled out.

The first downside target is located at $30.60, the 100-period EMA. Further south, the next contention level to watch is $30.40, the lower limit of the Bollinger Band. Extended losses will pave the way to the $30.00, psychological level, en route to $29.50, the low of January 13.

In the bullish case, the immediate resistance level emerges at $31.72, the high of January 31. The next hurdle is seen at the $31.90-$32.00 region, representing the upper limit of the Bollinger Band and the round mark.

Silver price 4-hour chart

Bitcoin price (BTCUSD) shows additional positive trades to attempt to surpass 95195.00$ level, and as we mentioned this morning, this level represents important key to detect the next trend, as breaching it will push the price to attempt to regain the bullish track and achieve positive targets that reach 100000.00$, while consolidating below it will put the price under additional negative pressure that its next target reaches 87055.00$.

Therefore, we will continue with our neutrality until the price confirms its situation according to the above mentioned level followed by getting clearer signal for the next trend.

The expected trading range for today is between 90000.00$ support and 98500.00$ resistance.

Trend forecast: Neutral

XAU/USD Current price: $2,821.47

• US President Donald Trump’s first round of tariffs triggered panic in the financial world.
• United States employment data and the Bank of England stand out this week.
• XAU/USD set to extend gains beyond $2,825 amid resurgent demand for safety.

Spot Gold benefited from a risk-averse environment, with XAU/USD advancing beyond the $2,800 mark ahead of the American session opening. Fears are dominating financial markets after United States (US) President Donald Trump announced tariffs on three of its major trading counterparts.

Trump announced 25% tariffs on Mexico and Canada and 10% levies on Chinese imports on Saturday while anticipating he will also target the European Union (EU) and the United Kingdom, spurring concerns about a trade war that would disrupt global supply chains. Safe-haven assets soared while worldwide indexes edged sharply lower. Authorities from the affected countries rushed to announce countermeasures with different degrees of detail.

The panic mood, however, receded during American trading hours. Wall Street started the day with sharp losses but trimmed a good part of those following headlines that cooled down concerns, as Mexico’s President Claudia Sheinbaum said tariffs against the country would be paused after announcing retaliatory levies over the weekend.

As for the bright metal, it benefited throughout the first half of the day from the dismal sentiment, extending gains while the USD retraced. As a result, XAU/USD reached a fresh all-time high of $2,825.39, trading nearby at the time being.

The macroeconomic calendar will feature the Bank of England (BoE) monetary policy decision this week and US employment-related data, including the ADP survey on Employment Change and the monthly Nonfarm Payrolls report. Nevertheless, tariffs and the trade war are likely to dominate financial markets.

XAU/USD short-term technical outlook

From a technical point of view, the daily chart for XAU/USD shows the pair trades inside a bullish channel, retreating just modestly from the upper end of the figure. Still, the upward momentum remains intact, and higher highs are in sight. In the mentioned time frame, technical indicators have partially lost their bullish strength but continue advancing within overbought territory. At the same time, the pair develops above all its moving averages, with the 20 Simple Moving Average (SMA) accelerating north above the 100 and 200 SMAs while providing dynamic support at around $2,726.

The near-term picture suggests buyers retain control despite a short pause. In the 4-hour chart, technical indicators reached overbought readings before turning flat, reflecting the ongoing retracement instead of suggesting a potential change in the dominant direction. At the same time, all moving averages gained upward traction far below the current level, with the 20 SMA at around $2,786.50.

Support levels: 2,804.50 2,786.50 2,772.00

Resistance levels: 2,825.20 2,840.00 2,855.00

Natural gas price took advantage of stochastic positivity that consolidates near 80 level now, to notice forming strong bullish rally this morning and surpass the MA55 at 3.260$, to start recording some gains by reaching 3.345$.

Now, the stability above 3.120$ support line and the continuous positive momentum coming by the major indicators support the chances of renewing the bullish attempts to target 3.420$ and 3.530$ levels.

The expected trading range for today is between 3.210$ and 3.420$

Trend forecast: Bullish

• Silver price loses ground to around $30.90 in Monday’s early European session, losing 1.30% on the day.
• The positive view of silver prevails above the 100-period EMA with a neutral RSI indicator.
• The initial support level is located at $30.60; the immediate resistance level is seen at $31.72.

The Silver price (XAG/USD) tumbles to near $30.90 during the early European trading hours on Monday. The mounting fears of a global trade war following US President Donald Trump’s sweeping tariff measures boost the US Dollar (USD) broadly and exerts some selling pressure on the white metal.

According to the 4-hour chart, the bullish outlook of the white metal remains intact, with the price holding above the key 100-period Exponential Moving Averages (EMA). Nonetheless, the Relative Strength Index (RSI) hovers around the midline, suggesting that further consolidation cannot be ruled out.

The first downside target is located at $30.60, the 100-period EMA. Further south, the next contention level to watch is $30.40, the lower limit of the Bollinger Band. Extended losses will pave the way to the $30.00, psychological level, en route to $29.50, the low of January 13.

In the bullish case, the immediate resistance level emerges at $31.72, the high of January 31. The next hurdle is seen at the $31.90-$32.00 region, representing the upper limit of the Bollinger Band and the round mark.

Silver price 4-hour chart

Bitcoin price (BTCUSD) shows additional positive trades to attempt to surpass 95195.00$ level, and as we mentioned this morning, this level represents important key to detect the next trend, as breaching it will push the price to attempt to regain the bullish track and achieve positive targets that reach 100000.00$, while consolidating below it will put the price under additional negative pressure that its next target reaches 87055.00$.

Therefore, we will continue with our neutrality until the price confirms its situation according to the above mentioned level followed by getting clearer signal for the next trend.

The expected trading range for today is between 90000.00$ support and 98500.00$ resistance.

Trend forecast: Neutral

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Ethereum price (ETHUSD) opened today’s trading with sharp decline, to break 2764.75$ level and reach 2108.90$, noting that exiting the bearish channel hints heading to suffer more losses on the intraday and short-term basis, noticing that the price is trying to cover some losses and provide positive trades now, as it moves around 2500.00$.

The mixed trades make us prefer to stay aside until the price settles and get clearer signal for the next trend, noting that breaking 2356.50$ will push the price to continue the decline and achieve additional negative targets that reach 2000.00$ barrier, while breaching 2764.75$ will lead the price to regain the bullish track and achieve gains that start by visiting 3017.30$.

The expected trading range for today is between 2300.00$ support and 2730.00$ resistance.

Trend forecast: Neutral

Crude oil price opened today’s trading with sharp rise to touch 75.52$ level, and found solid resistance there, to rebound downwards strongly and reach 73.90$ level again, these mixed trades – affected by Trump decision to impose the tariffs on Canada and Mexico – make us prefer to continue with our neutrality until we get clearer signal for the next trend, to continue monitoring the price according to 73.90$ level.

Note that continuing to decline and breaking this level will push the price to resume the bearish track that its next target located at 72.30$, while consolidating above it will push the price to recover and visit 75.52$ again.

The expected trading range for today is between 72.40$ support and 75.60$ resistance

Trend forecast: Neutral

• Gold price corrects from record highs to return below $2,800 early Monday.    
• US Presi. Trump started the trade war on Saturday, bolstering the US Dollar demand.
• Markets resort to ‘sell everything’ mode as risk aversion intensifies.
• The daily technical setup favors Gold buyers despite the ongoing retracement.    

Gold price is falling back below $2,800 early Monday, extending its correction from record highs of $2,817 set on Friday. Despite, the latest leg down in Gold price, buyers remain hopeful as global trade war fears intensify.

Gold price down but not out

US President Donald Trump on Saturday imposed 25% tariffs on Canada and Mexico while slapping China with 10% levy, effective 05:01 GMT on Tuesday, citing that the measures were necessary to combat illegal immigration and the drug trade.

In response, Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum, in a tit-for-tat, announced retaliatory tariffs on US goods. Meanwhile, China’s Foreign Ministry said it would challenge Trump’s levies at the World Trade Organization (WTO).

Trump’s tariffs initiated the inevitable trade war, with Asian traders hitting their desks and reacting negatively to the weekend announcement. Risk sentiment is heavily hit, reflective of the 1.40% decline in US S&P 500 futures.

Markets have resorted to ‘sell everything’ mode in times of panic and uncertainty, flocking to the go-to haven – the US Dollar (USD) at the expense of the traditional store of value, Gold. Traders are taking profits off the table in Gold price after it set record highs last week to cover for their losses in other financial assets.

However, if China retaliates with tariffs and risk-off flows intensify, Gold price could also find some support amid mounting concerns over a global trade war and its impact on global growth and inflation. Trump’s trade policies are perceived as inflationary, eventually boding well for the renowned inflation-hedge – Gold price.

Besides, traders might also take some cues from the top-tier US ISM Manufacturing PMI due later in the American session on Monday. Amid trade worries, discouraging China’s Caixin Manufacturing PMI data, which arrived at 50.1 in January, adds to the gloom. Meanwhile, speeches from US Federal Reserve (Fed) policymakers will also provide some trading incentives in Gold price.

 Gold price technical analysis: Daily chart

The short-term technical outlook for Gold price remains constructive as long as the 14-day Relative Strength Index (RSI), currently near 63.50, holds above the 50 level.

Adding credence to the bullish potential, the 50-day Simple Moving Average (SMA) and 100-day SMA Bull Cross remains in play.

Gold price needs a sustained move above the $2,800 level to retest the all-time highs of $2,817. The next topside barrier is at the $2,850 psychological level.

Conversely, the extended correction could challenge the January 30 low of $2,754, below which the previous week’s low of of $2,731 will come to buyers’ rescue.

The last line of defense for them is seen at the 21-day SMA at $2,721.