Gold prices pull back after record high due to Trump's economic stance, trade deal optimism

From Investing.com: 2025-04-23 05:30:00

Gold prices experienced a 1% pullback after hitting a new all-time high of $3,500 due to President Trump’s softened economic stance and trade deal optimism with China. Analysts note potential for further upward movement despite short-term oversold conditions.

The Euro weakened against the USD as Trump reassured he has no intention of firing Federal Reserve Chair Jerome Powell, shifting market sentiment. ECB President Lagarde sees no signs of recession in the eurozone, reducing expectations for a rate cut in May after recent cuts.

Japanese yen fell over 1% against the USD as trade tensions eased. Positive private sector data in Japan suggests a rebound in economic growth. Traders should monitor U.S. economic reports for potential impact on USD/JPY pair.



Read more at Investing.com: Gold Pulls Back After Record High as Trump Softens Economic Stance