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  • Market Insights  >  Trade Of The Day

10 March 2025,01:47

Trade Of The Day

Gold Gains Amid Dollar Weakness and Market Jitters

10 March 2025, 01:47

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Fundamental Analysis

* Gold prices edged higher as global uncertainties and a weaker U.S. dollar bolstered safe-haven demand. A disappointing U.S. jobs report raised concerns over economic growth, further enhancing gold’s appeal. Additionally, investor sentiment shifted toward stability amid lingering uncertainty over Trump’s tariff policies and Bitcoin’s recent downturn.

Technical Analysis

* Technical Consolidation: Gold is trending upward after bouncing from key support. Currently, prices are consolidating within a range of 2,900.00 to 2,925.00, with a breakout in either direction likely to determine the next trend. MACD signals strengthening bullish momentum, while RSI at 53 indicates a slight bullish bias as it hovers above the midline.

Potential Risks

Escalating U.S.-China trade tensions could heighten market volatility, influencing gold’s trajectory.

Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.

Monitoring

Stay alert to upcoming U.S. economic data, Federal Reserve policy updates, geopolitical developments, and shifts in trade relations that may impact gold’s movement by following PU Xtrader’s financial news page.

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