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10 March 2025,01:47
Trade Of The Day
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* 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 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.
Escalating U.S.-China trade tensions could heighten market volatility, influencing gold’s trajectory.
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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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