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21 April 2025,03:31
Trade Of The Day
21 April 2025, 03:31
*Gold has hit successive record highs this year as the trade conflict continues to unsettle global markets, diminishing appetite for risk assets and driving a rush to safe-haven assets. The International Monetary Fund (IMF) is expected to lower its global growth outlook in its new projections later this week, though they do not foresee a recession. “Our new growth projections will include notable markdowns, but not recession,” said IMF Managing Director Kristalina Georgieva.
* Gold is trading higher and currently testing the Fibonacci expansion level at 3380.00. MACD shows increasing bullish momentum, and RSI has formed a golden cross, indicating a positive short-term outlook. However, risks remain if a bearish divergence forms. Investors should keep an eye on both the MACD and RSI lines; if they curve and bearish momentum emerges, a technical correction in gold prices could follow.
Persistent U.S.-China trade tensions may still trigger volatility for the gold.
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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23 April 2025, 02:27 Gold Slips as Risk Sentiment Improves, But Caution Persists
21 April 2025, 03:31 Gold Break Records Amid Trade Tensions, IMF to Downgrade Forecasts
18 April 2025, 02:17 EUR/USD Eyes Breakout as ECB Cuts Rates, Trade Optimism Lifts Sentiment
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