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  • Market Insights  >  Trade Of The Day

28 March 2025,01:59

Trade Of The Day

Gold Hits Record High Amid Trade War Fears

28 March 2025, 01:59

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Fundamental Analysis

*Gold prices surged to an all-time high as investors rushed to safe-haven assets following Trump’s 25% auto tariff announcement. The decision has intensified global trade concerns, with potential negative economic impacts on Japan, Europe, and South Korea. Additionally, uncertainty surrounding the April 2 tariff announcement, expected to target at least 15 major US trading partners, has further boosted gold demand.

Technical Analysis

* Technical Breakdown: Gold is trading higher after breaking above its previous record high. MACD signals strong bullish momentum, while RSI at 69 suggests further upside potential. If the bullish trend continues, gold could extend gains toward the 3090.00 resistance level. However, if momentum fades, prices may retrace toward 3055.00 support.

Potential Risks

Uncertainty surrounding Trump’s tariff decisions may continue to drive volatility in gold prices.

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

Monitoring

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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