Gold (XAU/USD) fell over 1% in early Asian trading on Wednesday, currently hovering around $3,333. The drop came after U.S. President Donald Trump clarified that he has no intention of firing Federal Reserve Chairman Jerome Powell.
Trump stated, "The media tends to exaggerate things. No, I’m not planning to fire him. I just want to see him take a more active stance in cutting interest rates." This comment signaled reduced pressure on the Fed, which weakened gold's safe-haven appeal for the short term.
Gold also showed signs of pullback due to developments around Russia-Ukraine peace talks and U.S.-China tariff negotiations. While the long-term bullish trend has paused, the current dip presents new trading setups worth considering.
💡 Suggested Trade Ideas:
SELL XAU/USD:
Zone: 3432–3435
🎯 Take Profit: 3405 / 50–300 pips
🛑 Stop Loss: 3440
BUY XAU/USD:
Zone: 3286–3283
🎯 Take Profit: 3323 / 50–400 pips
🛑 Stop Loss: 3278
Stay calm, read the price action, and make your move when the market enters key zones.
Happy trading and good luck out there! 💰
Trump stated, "The media tends to exaggerate things. No, I’m not planning to fire him. I just want to see him take a more active stance in cutting interest rates." This comment signaled reduced pressure on the Fed, which weakened gold's safe-haven appeal for the short term.
Gold also showed signs of pullback due to developments around Russia-Ukraine peace talks and U.S.-China tariff negotiations. While the long-term bullish trend has paused, the current dip presents new trading setups worth considering.
💡 Suggested Trade Ideas:
SELL XAU/USD:
Zone: 3432–3435
🎯 Take Profit: 3405 / 50–300 pips
🛑 Stop Loss: 3440
BUY XAU/USD:
Zone: 3286–3283
🎯 Take Profit: 3323 / 50–400 pips
🛑 Stop Loss: 3278
Stay calm, read the price action, and make your move when the market enters key zones.
Happy trading and good luck out there! 💰
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.