Today, the hopes of a trade war de-escalation are quickly leaving the traders’ minds, as Trump has made yet another move to unnerve the markets.
The US president promised to implement a 25% tariff on all automotive vehicles that were not produced in the US. This announcement drove General Motors’ stock (#GM) 10% lower in a matter of hours.
But it doesn’t end here! New 69% tariffs on pharmaceuticals and wood products have also been promised. Trump also threatened the European Union countries to abstain from cooperating with Canada against the US economic interests, or else new heavy tariffs will crash upon them.
Yesterday, the #NASDAQ-100 ended the day 1.83% lower, possibly resuming the bearish trend, while gold gathered the strength to go higher today.
Our strategy remains the same for Gold. If you missed the entry points we provided you, wait for XAUUSD to close above the past ATH at $3057/oz and consider whether to join the rally right away or wait for a better opportunity.
The risk of the metal going into consolidation before April 2 is present, but ultimately, if Trump really implements all the tariffs he announced, the path for gold will shine green.The Gold Rally Might Resume Soon
Today, the hopes of a trade war de-escalation are quickly leaving the traders’ minds, as Trump has made yet another move to unnerve the markets.
The US president promised to implement a 25% tariff on all automotive vehicles that were not produced in the US. This announcement drove General Motors’ stock (#GM) 10% lower in a matter of hours.
But it doesn’t end here! New 69% tariffs on pharmaceuticals and wood products have also been promised. Trump also threatened the European Union countries to abstain from cooperating with Canada against the US economic interests, or else new heavy tariffs will crash upon them.
Yesterday, the #NASDAQ-100 ended the day 1.83% lower, possibly resuming the bearish trend, while gold gathered the strength to go higher today.
Our strategy remains the same for Gold. If you missed the entry points we provided you, wait for XAUUSD to close above the past ATH at $3057/oz and consider whether to join the rally right away or wait for a better opportunity.
The risk of the metal going into consolidation before April 2 is present, but ultimately, if Trump really implements all the tariffs he announced, the path for gold will shine green.Publication date:
2025-03-27 10:59:22 (GMT)
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