The gold market took a breather at the beginning of this week, with spot gold prices approaching the integer level of $3000/ounce after three consecutive days of decline, and adjusting close to $50 from last week's historic high of nearly $3050. The market is trying to digest US President Donald Trump's latest trade policy statement.

Trump has explicitly stated that tariffs on car imports are imminent, while threatening a 25% tariff on countries purchasing Venezuelan oil, and hinted that some countries may be exempted from the mutual aid tariffs that will take effect next week.

Trump's fluctuating signals on trade policy have left market participants feeling shrouded in confusion. The potential implementation of automobile tariffs may affect the global supply chain, while restrictions on Venezuelan oil further exacerbate tensions in the energy market

However, his flexible attitude released at the same time - some countries may be immune from a comprehensive impact - injected a glimmer of optimism into the market.

A senior analyst in the precious metals market said, "Trump's tariff strategy may seem scattered, but the global uncertainty it has triggered is a solid support for gold prices. The market is balancing the delicate balance between escalating trade conflicts and economic data performance

The performance of other precious metals shows differentiation. According to market research, the US dollar index remains unchanged. Silver and platinum prices have slightly declined, while palladium prices have remained relatively stable. This differentiation reflects different interpretations of market concerns about trade: gold dominates due to its safe haven nature, while precious metals with wider industrial applications are dragged down by potential economic slowdown expectations.

Technically speaking, gold is in a correction state after being overbought in the short term, and the bullish structure in the medium term has not yet been completed. We are waiting for the direction selection after the technical indicators are corrected. In the short term, we should focus on the gains and losses of the $3000 integer level.

Brent Donnelly, President of Spectra Markets, commented, "The current trend in the gold market indicates that investors' reactions to trade concerns have matured. In the short term, gold prices may fluctuate within the range of $3000 to $3100, awaiting clearer tariff details

According to the latest report from the US Commodity Futures Trading Commission (CFTC), speculators' net bearish sentiment towards the US dollar has recently increased, which may indirectly provide support for gold. At the same time, the volatility of US treasury bond bond yields has also added complexity to the precious metal market.