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Trade with simulated capital and earn real profits after you pass our trader assessment.
17 April 2025,03:27
Trade Of The Day
17 April 2025, 03:27
*Gold hit a new record high as investors grew increasingly concerned over the deepening U.S.-China trade war. Tensions escalated after President Trump imposed a 145% tariff on Chinese goods, with exemptions for smartphones. In response, China announced 125% tariffs on U.S. products. The White House further noted that combined tariffs on some Chinese goods could surge to 245%. Meanwhile, Fed Chair Jerome Powell warned that tariffs could trigger inflation, and despite signs of stagflation, emphasized that rate cuts might worsen the economic outlook. These conflicting signals continue to drive safe-haven flows into gold.
* Gold prices are trading higher after breaking above the previous resistance level. If bullish momentum continues, prices could re-test the next resistance at 3380.00 and potentially 3490.00. However, MACD signals fading bullish momentum, while RSI stands at 81, entering overbought territory. A slowdown in buying pressure could lead to a pullback toward the support at 3290.00.
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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