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Gold Daily | Record Highs in Gold Amid Trade Tensions and Dollar Weakness Signal Continued Bullish Momentum
Generated by AI AgentAinvest Market Brief
Friday, Apr 18, 2025 8:01 am ET1min read
【Latest Price and Recent Trends】
Gold prices surged to a record high, reaching 3,357.78 USD, up 0.4% on Thursday, following a 3.5% rise on Wednesday. Market concerns, including trade tensions, fuel continued support for gold.
【Technical Analysis】
Gold prices remain firmly above all bullish moving averages, with significant support at the 20-day SMA around 3,114 USD. RSI indicates overbought conditions, but price trends suggest the bullish momentum persists. Key support levels are 3,317.20 USD, 3,305.65 USD, and 3,292.80 USD, while resistance is seen at 3,350 USD and 3,375 USD.
【Market Sentiment and Economic Background】
Market volatility intensified as Fed Chairman Powell warned of trade conflicts, causing stocks and the dollar to drop sharply. Gold has risen due to trade war concerns, strong central bank purchases, and the perception as a safe-haven asset amid economic uncertainty. The gold rally is driven by tariffs, interest rate cut expectations, and global economic slowdown fears.
【Analyst Opinions】
Analysts predict further upside potential for gold, citing supportive factors such as dollar weakness, tariff uncertainty, and recession fears. Ole Hansen notes a risk of correction, though buyer interest remains robust. FXTM's Lukman Otunuga highlights the psychological level of 3,300 USD, suggesting potential targets of 3,400 USD, 3,500 USD, or higher, barring profit-taking or trade progress.
Gold prices surged to a record high, reaching 3,357.78 USD, up 0.4% on Thursday, following a 3.5% rise on Wednesday. Market concerns, including trade tensions, fuel continued support for gold.
【Technical Analysis】
Gold prices remain firmly above all bullish moving averages, with significant support at the 20-day SMA around 3,114 USD. RSI indicates overbought conditions, but price trends suggest the bullish momentum persists. Key support levels are 3,317.20 USD, 3,305.65 USD, and 3,292.80 USD, while resistance is seen at 3,350 USD and 3,375 USD.
【Market Sentiment and Economic Background】
Market volatility intensified as Fed Chairman Powell warned of trade conflicts, causing stocks and the dollar to drop sharply. Gold has risen due to trade war concerns, strong central bank purchases, and the perception as a safe-haven asset amid economic uncertainty. The gold rally is driven by tariffs, interest rate cut expectations, and global economic slowdown fears.
【Analyst Opinions】
Analysts predict further upside potential for gold, citing supportive factors such as dollar weakness, tariff uncertainty, and recession fears. Ole Hansen notes a risk of correction, though buyer interest remains robust. FXTM's Lukman Otunuga highlights the psychological level of 3,300 USD, suggesting potential targets of 3,400 USD, 3,500 USD, or higher, barring profit-taking or trade progress.
Ainvest Market Brief
Market Watch column provides a thorough analysis of stock market fluctuations and expert ratings.
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Ainvest News articles are AI-generated using advanced large language model (LLM) technology designed to analyze and synthesize publicly available data and news. While AI tools assist in producing initial drafts and insights, all AI generated content published on Ainvest is subject to comprehensive human editorial review before publication. A designated human editor reviews, verifies, and approves each article for factual accuracy, coherence, and compliance with AInvest Fintech Inc’s editorial and disclosure standards.
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