*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 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.
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.
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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*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 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.
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.
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
Trade forex, indices, metal, and more at industry-low spreads and lightning-fast execution.
Sign up for a PU Prime Live Account with our hassle-free process.
Effortlessly fund your account with a wide range of channels and accepted currencies.
Access hundreds of instruments under market-leading trading conditions.
Sign up for a PU Prime Live Account with our hassle-free process.
Effortlessly fund your account with a wide range of channels and accepted currencies.
Access hundreds of instruments under market-leading trading conditions.