14 March 2025,01:50
Trade Of The Day
14 March 2025, 01:50
* Gold surged to a record high as global risk sentiment weakened, driven by a deteriorating U.S. inflation outlook and escalating trade tensions. Investors sought safe-haven assets after U.S. President Donald Trump threatened a 200% tariff on European alcohol imports in retaliation for the EU’s proposed 50% tax on U.S. whiskey. Trump labeled the EU’s actions as “hostile and abusive,” demanding immediate tariff removals.
*Technical Breakdown: Gold prices are testing the key resistance level of 2,990.00. A breakout above this level could extend gains toward the next resistance at 3,035.00 (Fibonacci Expansion level). However, MACD indicates diminishing bullish momentum, while RSI at 76 suggests overbought conditions. If gold fails to break above resistance, a technical correction toward the support level of 2,935.00 may follow.
Understand how technical analysis can help you in this trading opportunity.
With gold at record highs, profit-taking could lead to a short-term price retreat.
Know how to manage trading risks with risk management strategies.
Watch for developments in U.S.-EU trade relations and any shifts in the Federal Reserve’s policy stance, by following PU Prime’s market insights and daily financial news.
Grab the trading opportunity and dive into the action risk-free with a free demo account. It is the perfect way to hone your skills and explore the exciting world of trading!
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This content is for educational and informational purposes only and should not be considered investment advice, a personal recommendation, or an offer to buy or sell any financial instruments.
This material has been prepared without considering any individual investment objectives, financial situations. Any references to past performance of a financial instrument, index, or investment product are not indicative of future results.
PU Prime makes no representation as to the accuracy or completeness of this content and accepts no liability for any loss or damage arising from reliance on the information provided. Trading involves risk, and you should carefully consider your investment objectives and risk tolerance before making any trading decisions. Never invest more than you can afford to lose.
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