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8 April 2025,23:59
Trade Of The Day
8 April 2025, 23:59
*Gold prices have slipped despite a steep decline in equity markets, as some investors opted to liquidate gold positions to raise cash and avoid forced margin calls. Still, the broader outlook for gold remains supported by persistent global uncertainty—particularly the escalating US-China trade conflict. With the US threatening tariffs as high as 104% on Chinese goods and no sign of easing tensions, long-term demand for gold as a safe-haven asset may strengthen.
* Gold is currently testing a key upward trendline and the critical support level at 2955.00. The MACD indicator signals weakening bearish momentum, while RSI at 30 is attempting to recover from oversold conditions. If buyers step in, gold could rebound and retest resistance at 3005.00. Conversely, a break below 2955.00 could trigger further downside toward the next major support at 2880.00.
Continued escalation in US-China trade tensions could inject significant volatility into gold markets, potentially influencing near-term direction.
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, and Nonfarm Payrolls report for further market direction by following PU Xtrader’s financial news page.
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11 April 2025, 02:51 Gold Climbs as Rate Cut Bets & Trade Fears Intensify
8 April 2025, 23:59 Gold Tests Key Support as Trade War Fears Battle Cash Demand
4 April 2025, 02:55 USD/CAD Extends Losses Amid Escalating Trade War Tensions
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