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Trade with simulated capital and earn real profits after you pass our trader assessment.
16 April 2025,03:09
Trade Of The Day
16 April 2025, 03:09
*Gold prices hit a record high after successfully breaking out above the Fibonacci expansion resistance level of 3225.00. The breakout came after a period of consolidation, as market uncertainty prompted a flight to safe-haven assets. While no new concrete developments have emerged from the trade war front, Trump’s imposition of another 145% tariff on Chinese goods continues to add tension. Notably, China has yet to retaliate and is instead seeking broader cooperation in Southeast Asia, indicating a cautious approach. Amid the uncertainty, investors remain inclined to shift portfolios toward gold for protection.
* Gold is trading higher following its breakout above key resistance. MACD indicates diminishing bearish momentum, while RSI stands at 72, remaining above the midline and signaling a continuation of bullish sentiment. If momentum persists, prices may extend gains toward the next resistance at 3295.00. Conversely, a pullback could lead gold to re-test support at 3225.00.
Heightened U.S.-China trade tensions could introduce further volatility in the gold market, potentially accelerating price swings.
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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18 April 2025, 02:17 EUR/USD Eyes Breakout as ECB Cuts Rates, Trade Optimism Lifts Sentiment
17 April 2025, 03:27 Gold Surges to Record-High, Stagflation Concerns Persist
16 April 2025, 03:09 Gold Hits Record High amid Trade Tensions Fuels Safe-Haven Demand
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