14 April 2025,02:06
Trade Of The Day
14 April 2025, 02:06
Gold prices rebounded sharply as the U.S. dollar weakened and concerns over global growth intensified. A combination of disappointing U.S. inflation data and rising fears of an escalating trade war boosted safe-haven demand. Expectations of potential interest rate cuts by the Federal Reserve have also enhanced gold’s appeal as a hedge against both inflationary and geopolitical risks.
Technical Breakout:
Technically, gold is trading higher after breaking above a key resistance level. MACD indicates slowing bullish momentum, while RSI stands at 69, approaching overbought territory and suggesting a possible consolidation or pullback. If bullish momentum continues, gold may rise toward the next resistance level of 3280.00. However, if upside momentum weakens, prices could retrace toward the support level at 3210.00.
Potential Risks: The ongoing trade war remains the primary risk factor that could lead to further volatility
Monitoring: Stay updated on potential trade tensions between US and world to gauge the likelihood movement for several asset classes.
Resistance levels: 3280.00, 3365.00
Support levels: 3210.00, 3160.00
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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.
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