Gold Consolidates Near Record High Amid Trade War Fears
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  • Market Insights  >  Trade Of The Day

2 April 2025,03:12

Trade Of The Day

Gold Consolidates Near Record High Amid Trade War Fears

2 April 2025, 03:12

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Fundamental Analysis

*Economists warn that the global economy could face a severe trade war as President Trump’s aggressive stance risks triggering retaliatory measures from major trading partners such as China, Canada, and the EU. Given the growing uncertainty, investors have shifted their portfolios toward safe-haven gold. Currently, gold consolidates near its record high as traders remain cautious, awaiting further details on the tariff measures expected later today.

Technical Analysis

*Technical Breakdown: Gold prices are trading higher after rebounding from the 3115.00 support level. MACD shows diminishing bearish momentum, while RSI has rebounded sharply from oversold territory, now standing at 50. If bullish momentum continues, gold could retest the 3140.00 resistance level. However, failure to maintain bullish momentum could see gold revisiting support at 3115.00.

Understand how technical analysis can help you in this trading opportunity.

Potential Risks

Further tariff escalations by the US could drive additional market volatility, increasing demand for safe-haven gold.

Know how to manage trading risks with risk management strategies.

Monitoring

Watch for developments in for any shifts in the potential trade tariffs from Trump and Russia-Ukraine updates, 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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  • Market Insights  >  Trade Of The Day

2 April 2025,03:12

Trade Of The Day

Gold Consolidates Near Record High Amid Trade War Fears

2 April 2025, 03:12

Share on:
FacebookLinkedInTwitterShare

Fundamental Analysis

*Economists warn that the global economy could face a severe trade war as President Trump’s aggressive stance risks triggering retaliatory measures from major trading partners such as China, Canada, and the EU. Given the growing uncertainty, investors have shifted their portfolios toward safe-haven gold. Currently, gold consolidates near its record high as traders remain cautious, awaiting further details on the tariff measures expected later today.

Technical Analysis

*Technical Breakdown: Gold prices are trading higher after rebounding from the 3115.00 support level. MACD shows diminishing bearish momentum, while RSI has rebounded sharply from oversold territory, now standing at 50. If bullish momentum continues, gold could retest the 3140.00 resistance level. However, failure to maintain bullish momentum could see gold revisiting support at 3115.00.

Understand how technical analysis can help you in this trading opportunity.

Potential Risks

Further tariff escalations by the US could drive additional market volatility, increasing demand for safe-haven gold.

Know how to manage trading risks with risk management strategies.

Monitoring

Watch for developments in for any shifts in the potential trade tariffs from Trump and Russia-Ukraine updates, 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!

Open Your Free Demo Account And Start Trading Risk-Free

Join Now

Start trading with an edge today

Trade forex, indices, metal, and more at industry-low spreads and lightning-fast execution.

  • Start trading with deposits as low as $50 on our standard accounts.
  • Get access to 24/7 support.
  • Access hundreds of instruments, free educational tools, and some of the best promotions around.
Join Now

Latest Posts

Fast And Easy Account Opening

Create account
  • 1

    Register

    Sign up for a PU Prime Live Account with our hassle-free process.

  • 2

    Fund

    Effortlessly fund your account with a wide range of channels and accepted currencies.

  • 3

    Start Trading

    Access hundreds of instruments under market-leading trading conditions.

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Gold Consolidates Near Record High Amid Trade War Fears

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