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14 April 2025,02:52
Trade Of The Day
*Gold prices surged as the U.S. dollar weakened and global growth concerns resurfaced. A mix of weaker U.S. inflation data and heightened fears of a deepening U.S.-China trade war drove investors into safe-haven assets. In addition, growing speculation that the Federal Reserve may lower interest rates further boosted gold’s attractiveness as a hedge against inflation and geopolitical uncertainty.
* Gold has broken above a key resistance level and is now trading higher. However, the MACD reflects slowing bullish momentum, while the RSI at 69 signals overbought conditions—suggesting a potential consolidation or minor pullback. Should momentum hold, the next upside target lies at 3280.00. Conversely, a pause in the rally could see a retracement toward 3210.00 support.
Trade tensions remain the dominant risk factor, potentially triggering further volatility in gold prices.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Keep an eye on potential trade war for further market direction by following PU Xtrader’s financial news page.
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