Gold Hits New Trend High, Eyes $5,345 Target Amid Support Retest

Gold prices (XAUUSD) have successfully broken out to a new trend high, shifting the focus toward a primary upside target of $5,345. This bullish breakout occurs as the price currently tests near-term support levels, reflecting a temporary slowdown in momentum conditions. Market sentiment remains underpinned by geopolitical tensions and US economic data, including the Producer Price Index (PPI), which bolsters safe-haven demand. Silver also maintains its strong footing following a 6% surge, driven by robust industrial demand and global economic uncertainty. Investors are closely monitoring the implications of 10% trade tariffs and the Federal Reserve's policy path in a volatile environment. Technical analysts suggest that while momentum has slowed, staying above key support levels is essential for reaching the newly established price targets.