Gold is recovering from the pullback that started in late February.

In recent market movements, gold has shown signs of recovery following a decline that began in late February. As the dollar experiences downward pressure, analysts suggest that gold may be poised to break the February highs, potentially reaching around $3,000. This bullish sentiment is fueled by the ongoing economic uncertainties, particularly in light of U.S. President Trump's administration and its potential effects on domestic trade policies. The daily chart analysis indicates that gold is on a long-term bullish trajectory, with trends suggesting that buyers are capitalizing on pullbacks to drive prices higher. The significant milestone of $3,000 could serve as a psychological resistance point, possibly triggering a substantial pullback as the market reacts to this level. Analysts like Sanmi Adeagbo point out that the current wave structure suggests that gold's price upheaval is far from over, with wave (III) projected to continue on an upward path. Furthermore, the H4 chart analysis reveals that gold is currently in a phase that supports short-term rallies, enabling investors to capitalize on short-term fluctuations leading towards the target price. This supports the notion that any pullbacks will present fresh buying opportunities. Commentary on broader market contexts highlights increasing concerns over recession due to U.S. trade tariffs, which has kept the dollar under pressure. This backdrop creates a conducive environment for safe-haven assets like gold and silver, which are responding positively amidst stock market volatility. However, it's crucial to note that while there are bullish indicators, trading in commodities, particularly gold, involves significant risks. Historical performance does not guarantee future results, and it is essential for investors to conduct thorough analyses before diving into trading decisions. The advisory provided through services like TradingLounge expresses opinions that should be considered with caution and within the context of individual financial situations. As always, this analysis has been reviewed and supported by artificial intelligence to ensure a comprehensive viewpoint on current gold market dynamics.