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Gold Rebounds as Trade War Intensify

From puprime.com

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. 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 ... (full story)

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  • Category: Technical Analysis