Gold prices have experienced a remarkable increase recently, trading at approximately $3,040. The surge coincides with new tariffs initiated by President Trump which are reshaping market sentiment. With the precious metal making notable gains, investors are keenly focused on the short-term outlook of XAU/USD. As gold hovers just under its all-time high, traders are waiting for signs towards further upward movement. Market watchers should remain vigilant to capitalize on any potential shifts.