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26 March 2025,01:41
Trade Of The Day
*Gold prices remained range-bound as mixed sentiment kept the metal within a defined trading range. A slight rebound followed weaker US economic data, boosting safe-haven demand. However, gold’s long-term direction remains uncertain, with traders closely watching Trump’s tariff announcement on April 2, which could significantly impact market sentiment.
* Technical Breakdown: Gold is trading lower after retracing from the 3030.00 resistance level. A double-top pattern is forming, indicating potential further retracement toward 3005.00 support. MACD signals increasing bearish momentum, while RSI at 49 suggests continued downward pressure. If the bearish trend persists, gold may test 3005.00 support. However, if bearish momentum weakens, a rebound toward 3030.00 resistance is possible.
A more aggressive tariff policy from Trump could increase safe-haven demand for gold, reversing its current downward pressure.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Keep an eye on potential Trump’s tariffs implementations, and Russia-Ukraine ceasefire deal for further market direction by following PU Xtrader’s financial news page.
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2 April 2025, 03:17 Gold Holds Near Record High as Trade War Concerns Mount
28 March 2025, 01:59 Gold Hits Record High Amid Trade War Fears
27 March 2025, 08:44 Gold Rebounds as Trade Policy Uncertainty