Gold shows strong price trends, looking forward to hitting the ATH.
Gold Price Outlook: XAU/USD
The price of Gold extends the series of higher highs and lows from earlier this week to register a fresh record high ($3358), and the bullish price action may persist as the Relative Strength Index (RSI) holds above 70.
Gold Bullish Price Series Keeps RSI in Overbought Territory
Recent changes in US trade policy are likely to support the price of Gold, positioning it as a viable alternative to traditional currency. As long as it remains above the 50-day Simple Moving Average (SMA) of $3004, Gold could experience a steady upward trend.
The price of Gold may continue to reach new record highs as the Trump administration’s actions create uncertainty regarding global growth. However, a lack of momentum to sustain the upward trend could cause the Relative Strength Index (RSI) to drop back from overbought levels.
XAU/USD Price Forecast: Technical outlook
Gold prices are still rising, even though they dipped below $3,330. As prices rebound, it shows there is not much demand for lower levels, which could mean potential gains ahead. The RSI is high but not exceptionally high, suggesting there could be a return to average levels. The first support point is at $3,300, with another support level at $3,229. If prices break above $3,350, they could reach the yearly high of $3,400.
Concerns are growing about the US dollar losing its status as a haven.
The US Dollar Index (DXY), which measures the US Dollar (USD) against six major currencies, is below 99.50 during early European trading on Friday. The Dollar is weak due to concerns about how tariffs affect the US economy. Traders are paying close attention to US trade talks, but overall trading activity is expected to be low because of the Good Friday holiday.
The Dollar was supported after Federal Reserve Chair Jerome Powell commented on the economy. He warned that a slow economy combined with ongoing inflation could make it harder for the Fed to achieve its goals and increase the risk of stagflation. Additionally, President Donald Trump criticized Powell for not cutting interest rates quickly enough and said that Powell’s removal “can’t come quickly enough.”
After President Trump’s changing tariff announcements, the Dollar fell significantly against other currencies. While some tech items were exempt from tariffs, new semiconductor tariffs may be coming. The Dollar hit near three-year lows recently, while the yen and euro strengthened. Analysts at Capital Economics said the tariffs created uncertainty, damaged confidence in US institutions, and caused trouble in the Treasury market.
Fed Chair warns tariffs could have a more significant impact on the US economy.
Federal Reserve Chair Jerome Powell shared his worries about the current economy. He noted that the Fed might struggle to balance keeping inflation under control while supporting economic growth. “We may find ourselves in a challenging scenario where our goals conflict,” Powell said at the Economic Club of Chicago on Wednesday.
Powell explained that the Fed will adjust interest rates based on new data. If inflation rises, the Fed may keep rates steady or even increase them. If economic growth slows down, rates could go lower.
President Trump’s tariffs will likely cause a temporary increase in inflation. Jerome Powell believes the impact will be more significant than expected and could lead to lasting inflation.
After these comments, President Trump criticized Jerome Powell in a post on Truth Social. He accused the Fed Chair of being “too late and wrong.” Trump argued that the Federal Reserve should have lowered interest rates because “the USA is getting rich on tariffs.” He also said it was time for Powell to leave the Federal Reserve.
Bitcoin Weekly Update: BTC stays stable as the Fed warns about the effects of tariffs
Bitcoin (BTC) held steady above $84,000 on Friday, establishing a key short-term support level. As the largest cryptocurrency by market cap, it has navigated the challenges posed by US President Donald Trump’s ongoing trade war with China, particularly after his 90-day pause on reciprocal tariffs announced on April 9. At that moment, Bitcoin was trading at $84,605, and its technical indicators hinted at a potential breakout ahead.
Fed Chair warns tariffs could have a more significant impact on the US economy.
Federal Reserve Chair Jerome Powell shared his worries about the current economy. He noted that the Fed might struggle to balance keeping inflation under control while supporting economic growth. “We may find ourselves in a challenging scenario where our goals conflict,” Powell said at the Economic Club of Chicago on Wednesday.
Powell explained that the Fed will adjust interest rates based on new data. If inflation rises, the Fed may keep rates steady or even increase them. If economic growth slows down, rates could go lower.
President Trump’s tariffs will likely cause a temporary increase in inflation. Jerome Powell believes the impact will be more significant than expected and could lead to lasting inflation.
After these comments, President Trump criticized Jerome Powell in a post on Truth Social. He accused the Fed Chair of being “too late and wrong.” Trump argued that the Federal Reserve should have lowered interest rates because “the USA is getting rich on tariffs.” He also said it was time for Powell to leave the Federal Reserve.
Gold prices are rising, highlighting Bitcoin’s image as a safe investment.
Gold prices rose due to uncertainty over tariffs and the trade war between the US and China. The price reached a record high of $3,357 per ounce before settling at $3,327.
Bitcoin stabilized after a low of $74,572 but remains below $85,000. Recent data shows more money left Bitcoin Exchange Traded Funds (ETFs) than came in, suggesting investors may be buying Gold instead. In the past two weeks, Bitcoin ETFs saw inflows on only four days compared to nine days of outflows.
Despite this, Bitcoin outperforms stocks as markets react to President Trump’s tariffs. This week, China faced a 245% tariff, causing tech stocks like NVIDIA to lose value. K33 Research noted that while Bitcoin did not attract safe-haven interest like Gold, its stability stood out during a week of global uncertainty.
How will President Trump’s threat to Powell affect Bitcoin?
Bitcoin (BTC) traded above $84,000 on Friday. President Donald Trump criticized Federal Reserve Chairman Jerome Powell for not cutting interest rates on time. Trump noted that the European Central Bank lowered rates by 25 basis points and urged Powell to do the same in the US. Trump also suggested removing the Fed chair, saying that Powell’s “termination cannot come too fast.”
Donald Trump calls out Powell for defiance in cutting interest rates as Bitcoin holds steady.
President Trump attacked Jerome Powell again on Truth Social, criticizing him for being “always late” on interest rates. He argued that Powell should lower rates now, pointing to the ECB’s recent 25 basis point cut and noting that inflation has decreased in the US.
Trump suggested he wanted to remove Powell quickly, stating, “If I want him out, he’ll be out of there real fast.”
His comments raised concerns about the impact on financial markets. Senator Elizabeth Warren warned that if Trump could fire Powell, it would crash the US market. At the New York Stock Exchange, she said the economy remains stable because “big pieces move independent of politics.”Donald Trump’s criticism of Federal Reserve Chair Powell did not significantly affect the crypto market, with Bitcoin staying strong above $84,000. Tim Delhaes, co-founder of Grindery, noted that market movements are based on investor perception rather than policies. He suggested that Trump’s pressure on Powell and the ECB’s rate cuts might lead to more investment in Gold, bonds, and Bitcoin.
Mike Cahill, CEO of Douro, stated that the markets see this conflict and the ECB’s rate cuts as a sign of potential policy changes, but emphasized that rate cuts alone won’t solve everything.
Douglas Colkitt from Initial Fogo warned that political pressure could harm the market. He highlighted the need for a stable financial infrastructure and regulations unaffected by political shifts.
Anastasija Plotnikova, CEO of Fideum, agreed that Trump’s actions won’t stabilize the market as he cannot fire Powell. She noted that the Fed is clear about its stance and doesn’t expect rate cuts until tariff negotiations end.
Due to high interest rates and tariffs, Bitcoin may consolidate for a while. Since Trump’s tariff announcements in February, Bitcoin has fallen nearly 18%, from $102,000 to $84,500
Ethereum Price Forecast: ETH ETFs total net assets plummet over 60%; Justin Sun says he won’t sell ETH
Ethereum (ETH) traded just below $1,600 on Thursday following a 60% plunge in the total net assets of US spot Ether ETFs. Meanwhile, Tron founder Justin Sun said he won’t sell his ETH holdings despite the sustained downtrend in the top altcoin price.
Sun weighs in on Ethereum’s decline amid heightened ETH ETF outflows.
US spot Ether exchange-traded funds (ETFs) continued their negative flows on Wednesday after shedding $12.01 million, per SoSoValue data.
Since Trump’s tariffs went live, ETH ETFs have seen a net outflow of $909 million. ETH’s weak price has also caused its total net assets to plummet by over 60%, going from an all-time high of $14.28 billion in December to $5.25 billion on Wednesday. The sustained outflows signal increased institutional risk-off sentiment, hampering ETH’s price growth.
Ethereum Price Forecast: ETH continues downtrend amid oversold conditions in technical indicators
In the past 24 hours, Ethereum has experienced $23.10 million in futures liquidations, including $12.52 million in long positions and $10.58 million in short positions.
ETH has been declining for over four months since December 16. This is the most extended period of decline since ETH was launched in 2017.
Conclusion
In conclusion, global trade policy changes, especially the Trump administration tariffs, have impacted traditional and digital asset markets. Gold remains a solid choice against economic uncertainty, while Bitcoin shows strength amid market fluctuations. Ethereum faces challenges from large institutional outflows but is adapting. Market participants should stay alert to the complex links between politics, economics, and technology.
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