Gold Market Analysis: On Tuesday, April 8, spot gold stabilized and rebounded, gaining nearly 1% during the day, successfully recovering losses from the previous trading session. This rebound ended a three-day pullback, with gold prices significantly rising from the key support level of $2,955. The current market focus is on the Federal Reserve’s policy path and the evolution of geopolitical trade situations. Amid mixed factors, gold’s short-term volatility has increased noticeably. Recently, driven by a new round of tariffs imposed by U.S. President Donald Trump on trade partners, gold prices surged above $3,000. This marks the first time in a long while that geopolitical and economic uncertainties have become the main drivers of the gold market. Analysts note that as tensions escalate among historical allies over U.S. tariffs, global trade, and conflicts in Ukraine and the Middle East, major powers seem less likely to quickly unite to address the issues fueling investor interest in gold as a safe-haven asset.
Gold Trading Strategy for Today: It is recommended to focus on buying during pullbacks and consider selling during rebounds. Pay attention to resistance around the $3,015 level and support near $2,985.
Crude Oil Market Analysis: Amid escalating global trade concerns, international oil prices plunged 2% on Monday, reaching nearly four-year lows, reflecting strong fears in the energy market about a global economic slowdown. Brent crude futures settled at $64.21 per barrel, down 2.1%, while U.S. WTI crude futures closed at $60.70 per barrel, also down 2.1%. Both benchmarks hit their lowest levels since April 2021, with oil prices having dropped over 11% in the past week. Although there was some rebound during Tuesday’s Asian trading session, bullish momentum remains limited, and caution is advised against a potential second decline. Last week, President Trump announced new tariffs on imports from Asian countries and threatened an additional 50% tariff if retaliatory measures were not withdrawn. This statement shattered hopes for negotiation relief and further ignited concerns about a global economic recession.
Crude Oil Trading Strategy for Today: It is recommended to focus on selling during rebounds and consider buying during pullbacks. Pay attention to resistance around the $58.3 level and support near $55.3.
Proceed with caution; this advice is for reference only.
