tURnaDo25
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Gold rose + 2.5% in USD (+1.8% in EUR), reaching over $3,300 per ounce and €93.5 per gram on Wednesday and early this morning, as the dollar weakened and investors sought safety amid U.S. fiscal uncertainty.
With Congress debating a still uncertain sweeping tax bill, and with Moody’s downgrade of the US sovereign credit rating intensifying fears of a looming debt time-bomb, the dollar dropped in the last 24 hours to its lowest level in almost a month, making dollar-priced gold cheaper for holders of Euro and other overseas currency.
"Over the medium- to longer-term, further upside in gold is favoured, though if any positive trade-deal headlines arise this could be an obstacle for gold in attempting to reclaim the $3,500 level," said KCM Trade Chief Market Analyst Tim Waterer to Reuters.
If you were thinking of buying gold, now might be a good time.
With Congress debating a still uncertain sweeping tax bill, and with Moody’s downgrade of the US sovereign credit rating intensifying fears of a looming debt time-bomb, the dollar dropped in the last 24 hours to its lowest level in almost a month, making dollar-priced gold cheaper for holders of Euro and other overseas currency.
"Over the medium- to longer-term, further upside in gold is favoured, though if any positive trade-deal headlines arise this could be an obstacle for gold in attempting to reclaim the $3,500 level," said KCM Trade Chief Market Analyst Tim Waterer to Reuters.
If you were thinking of buying gold, now might be a good time.
Scott Bessent , US Treasury Secretary says ; following a two-day closed-door meeting between US and China top officials aimed at ending the tariff war :
Tariff rates will soon return to a “reciprocal” level if countries don’t reach trade agreements during the 90-day pause,and President Trump has put them on notice that if you do not negotiate in good faith, you will ratchet back up to your April 2 level”
#TarriffsPause
Tariff rates will soon return to a “reciprocal” level if countries don’t reach trade agreements during the 90-day pause,and President Trump has put them on notice that if you do not negotiate in good faith, you will ratchet back up to your April 2 level”
#TarriffsPause
Trade with money that won't hurt you, never with money that you borrow or need, it should be money that you won't regret losing !
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