On Monday morning, the financial markets experienced a stunning turn of events, with the price of gold soaring dramatically to reach unprecedented heightsIt approached a significant threshold of $3000 per ounce, confirming investor anxieties about the broader economic landscape.

With the United States imposing more tariffs on its trade partners, the outlook for global economic growth has become increasingly cloudedThis rise in protectionist policies has sparked fears of an economic slowdown, leading to a notable surge in safe-haven demand for gold and silverAs uncertainties mount, investors are increasingly flocking to these traditional safe-haven assets, seeking shelter for their portfoliosSimultaneously, rapid shifts in U.S. governmental policies are amplifying concerns among market participants, contributing to heightened volatility.

Specifically, by the end of April, gold prices rose by $48.20, settling at $2935.80—an impressive hike

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In March, silver prices also saw an uptick of $0.242, climbing to $32.685. Although this rise was relatively modest, it nevertheless mirrored the surging safe-haven sentiment in the market.

In the stock market, Asian and European indices displayed mixed responses during overnight tradingSome Asian markets experienced fluctuations influenced by geopolitical tensions and economic data releases, while European stocks showcased a divergence influenced by corporate earnings reports intermingling with macroeconomic expectations.

However, at the New York opening bell, U.S. stock indices exhibited a tendency to open higherSurprisingly, traders and investors in the American market remained relatively unfazed by the news of a potential 25% tariff on all imported steel and aluminumAccording to Bloomberg, "the rapid pace of U.S. tariffs is leading economists to reassess their impacts, with some warning that the risks to growth are being loaded ahead of time." Barron's notably headlined, “Market sees the U.S. tariff threat as the boy who cried wolf,” suggesting a growing fatigue and even numbness regarding the frequent announcements of new tariff policies.

From a broader external market perspective, the dollar index demonstrated a rising trend today, significantly impacting the cash flow and asset prices across the global financial marketsAdditionally, crude oil futures on the New York Mercantile Exchange showed robust performance, trading near $72.00 per barrelFluctuations in oil prices not only influence the energy markets but are closely tied to global economic growth; rising oil prices could further escalate production costs, thus potentially hindering economic expansion

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At the moment, the benchmark 10-year U.STreasury yield stands at 4.499%, highlighting market expectations surrounding the U.S. economic outlook and monetary policy developments, serving as critical references for investors.

Economic data released in the U.S. on Monday, including employment trends and monthly retail chain sales figures, holds significant weight for gauging the health of the American economy and its market movementsThe employment trends index provides insight into the dynamics of the U.S. labor market, while the monthly retail sales figures reflect American consumers' purchasing capacity and willingness to spend.

From a technical analysis standpoint, April gold futures appear to have solid fundamentals in the short termThere are marked upward trends on daily candlestick charts, suggesting strong demand for gold, with bullish sentiments dominatingThe next bullish goal is to close above the critical resistance level of $3000. Should this key level be breached, gold prices could embark on a new rallyConversely, the bears aim to push futures prices below a substantial technical support level of $2800, though they currently face considerable pressure in the marketInitial resistance levels are identified at $2940 and $2950, while the first support is observed at $2900 and then the overnight low of $2879.90. Based on an aggregate analysis, we assess the market at a rating of 9.5, indicating robust upward momentum and optimism in the short term.

Meanwhile, March silver futures also show an upward price trend on the daily chart, granting them an overall technical advantage in the short termThe next target for bullish investors is to achieve a closing price that surpasses the solid resistance level of $34.00. If breached, silver prices could see further increases

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