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27 February 2025,02:33
Trade Of The Day
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27 February 2025, 02:33
* Bullion Dip: Gold prices slipped against the dollar as geopolitical tensions eased after the U.S. unexpectedly sided with Russia in a UN vote. Marking the anniversary of Russia’s invasion, Ukraine proposed a resolution—backed by most Western nations—labeling Russia as the aggressor. However, Washington, along with Moscow and its allies, voted against it, surprising its allies. This shift may put pressure on Ukraine and potentially hasten the war’s end. Meanwhile, investors turned their attention to upcoming inflation data, with the Fed expected to take a firm approach to inflation and labor market changes. Persistently high inflation could keep interest rates elevated, reducing gold’s appeal. Markets now await Friday’s U.S. Personal Consumption Expenditures (PCE) report—the Fed’s preferred inflation gauge—for insights into future rate decisions.
* Technical Breakout: Gold price have traded lower following prior retracement from the resistance level 2920.00. MACD which illustrate diminishing bullish momentum signal suggest the commodity to likely extend its losses.
* Resistance and Support: If the bearish momentum persists, there’s a strong likelihood that the price will potentially head towards the level 2883.00. Conversely, a potential reversal is also to be expected and the price could head towards the resistance level 2956.00 after it breach back above the level 2920.00.
Looking ahead, traders will keep a close watch on upcoming key U.S. economic data, including GDP and the Fed’s preferred inflation measure, the Core PCE Price Index, for further market direction. Additionally, attention will remain on ongoing developments regarding President Donald Trump’s tariff policies
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Stay updated on US data, global market updates, central bank updates and any shifts in the US Dollar’s strength by following PU Xtrader’s financial news page.
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28 February 2025, 02:09 Euro Declines Under Tariff Pressure
27 February 2025, 02:33 Gold Declines as Geopolitical Tension Fears Ease
25 February 2025, 02:09 Crude Oil Fell on U.S. Economic Worries and Trump Tariffs
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