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13 February 2025,02:13
Trade Of The Day
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13 February 2025, 02:13
* Inflation vs. Safe-Haven Demand: Gold prices held near record highs as traders weighed strong U.S. inflation data against rising safe-haven demand driven by global trade uncertainty.
* Fed Rate Cut Expectations: A hotter-than-expected U.S. CPI report led traders to scale back expectations for Fed rate cuts, pricing in only one cut instead of two.
* Trade Tensions: President Trump’s aggressive tariff plans have reignited concerns over global trade, boosting demand for gold as a hedge against uncertainty.
* Technical Breakout: Gold continues to trade higher after rebounding from support, with the MACD indicating strengthening bullish momentum. The RSI at 56 suggests potential for further gains, with price eyeing resistance at 2935.00.
* Resistance and Support: If the bullish momentum persists, there’s a strong likelihood that the price will potentially head towards the level 2935.00. Conversely, a potential reversal is also to be expected and the price could head back towards 2875.00
Looking ahead, U.S.-led ceasefire talks between Russia and Ukraine could affect safe-haven demand, leading to increased volatility in gold prices.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Stay updated on potential US tariffs implementation, ceasefire negotiations between Russia-Ukraine 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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