The XAU/USD pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent Formation of a Triangle Breakout Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours.
Possible Long Trade: Entry: Consider Entering A Long Position around Trendline Of The Pattern.
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Gold prices are rising because people are worried about new U.S. tariffs on imports from Mexico and Canada. When there are economic uncertainties, investors often buy gold as a safe investment. The possibility of lower inflation could also lead to lower interest rates, which makes gold more attractive.
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The White House announced new tariffs on imports from Mexico, Canada, and China. These are taxes on goods coming into the U.S. The tariffs are 25% on goods from Canada and Mexico, 10% on energy products from Canada, and 10% on goods from China.
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