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23 April 2025,02:27
Trade Of The Day
23 April 2025, 02:27
*Gold prices edged lower from record highs as investors shifted back into risk assets, leading to profit-taking in safe havens. The recent rally, fueled by geopolitical tensions and global trade concerns, took a breather amid a rebound in equity markets. Still, unresolved issues such as ongoing U.S.-China trade negotiations and growing speculation around Fed policy shifts may keep gold supported in the medium term.
* Gold is currently trading sideways near a crucial support zone. MACD reflects fading bearish momentum, while RSI at 37 points to a possible short-term recovery. If upward momentum builds, gold could revisit resistance near 3375.00. On the flip side, a break below current levels may open the door to a deeper decline toward 3320.00.
Trade tensions and uncertainty over Fed rate policy continue to pose significant risks that could influence gold prices.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Keep an eye on potential trade war for further market direction by following PU Xtrader’s financial news page.
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23 April 2025, 02:27 Gold Slips as Risk Sentiment Improves, But Caution Persists
21 April 2025, 03:31 Gold Break Records Amid Trade Tensions, IMF to Downgrade Forecasts
18 April 2025, 02:17 EUR/USD Eyes Breakout as ECB Cuts Rates, Trade Optimism Lifts Sentiment
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