Gold Market Analysis
On Thursday (April 3), during the early Asian trading session, spot gold surged strongly, continuously breaking new highs and currently trading around $3,157.90 per ounce. On Tuesday, gold prices spiked before pulling back. Earlier, spot gold briefly rose to the $3,150 level, setting a historical high of $3,148.85 per ounce, but later retreated due to profit-taking, closing at $3,114.03 per ounce, a decline of approximately 0.3%.
For weeks, Trump has been proclaiming April 2 as “Liberation Day,” a day when the U.S. is expected to impose large-scale reciprocal tariffs that could potentially disrupt the global trade system. He plans to announce these new tariffs at 4:00 PM Eastern Time (4:00 AM Beijing Time on Thursday) from the White House Rose Garden. According to The Washington Post, Trump’s aides are considering a plan to impose a 20% tariff on almost all imports, rather than targeting specific countries or products. The report also states that the U.S. government expects the new tariffs to generate over $6 trillion in revenue, which could be returned to Americans in the form of tax rebates.
Today’s Gold Trading Strategy
- Main Strategy: Buy on dips
- Secondary Strategy: Sell on rebounds
- Key Resistance: $3,170
- Key Support: $3,140
Crude Oil Market Analysis
On Wednesday, international oil prices fluctuated within a narrow range. Brent crude fell below $75, while WTI remained above $71. The market generally reduced exposure before the announcement of Trump’s tariff policy, awaiting the final decision.
“The market is hitting the brakes for now, with traders reducing risk exposure to prepare for potential volatility after the policy announcement. Currently, the market is caught in a complex situation with multiple factors at play. The uncertainty surrounding Trump’s tariff policy is keeping traders cautious, while supply risks from Russia and Iran may provide some price support. Additionally, OPEC’s production increase and the unexpected rise in U.S. crude inventories could heighten concerns over supply surplus, leading to a short-term fluctuation in oil prices. In the coming days, the market will closely monitor the White House’s final tariff plan, OPEC’s next moves, and further changes in U.S. energy inventories.”
Today’s Crude Oil Trading Strategy
- Main Strategy: Sell on rebounds
- Secondary Strategy: Buy on dips
- Key Resistance: $71.0
- Key Support: $67.9
⚠ Trade with caution—strategies are for reference only.
