10 March 2025,01:29
Trade Of The Day
10 March 2025, 01:29
* Gold prices climbed higher as global uncertainties and a weakening U.S. dollar supported safe-haven demand. A disappointing U.S. jobs report fueled concerns over the economy’s outlook, further boosting gold’s appeal. Additionally, investor sentiment shifted toward stability amid ongoing uncertainty over Trump’s tariff policies and Bitcoin’s recent decline.
*Technical Consolidation: Gold is trading higher after rebounding from key support. Technically, prices are expected to consolidate between the resistance level of 2,925.00 and support at 2,900.00. A breakout above or below this range could signal a clearer trend. MACD indicates increasing bullish momentum, while RSI stands at 53, suggesting a slight bullish bias as it remains above the midline.
Understand how technical analysis can help you in this trading opportunity.
U.S.-China trade tensions could add further volatility to safe-haven assets, potentially impacting gold’s movement.
Know how to manage trading risks with risk management strategies.
Keep an eye on upcoming U.S. economic data releases, Federal Reserve policy signals, geopolitical tensions, and any developments in trade relations that could influence gold’s direction, by following PU Prime’s market insights and daily financial news.
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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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