Gold 
“Gold prices shot up during April, breaking several record high levels during the month. One of the primary factors driving gold prices higher was the aggressive reciprocal tariffs announced by the Trump administration on every U.S. trading partner, a sharp escalation in tit-for-tat tariffs between China and the United States, and comments by Trump that suggested firing Fed chairman Jerome Powell. All of these factors helped drive gold prices from $3,150 at the end of March to an intraday high of $3,509.9 on 22 April. Prices had come down from those record high levels and had been moving around $3,325, with strong support at $3,270. Profit-taking coupled with a softening stance by Trump on both the Fed as well as trade tariffs led prices to decline around $250 from their highs.
The softness in gold prices did not last for long and at the time of writing this report gold prices were back near their record highs. Gold prices could spend some time moving in a sideways fashion, with some potential for prices to soften in the near future. But the overall uptrend in gold prices remains intact and therefore any weakness in prices should be used as a buying opportunity.”
The full Precious Metals Advisory report is available directly from CPM Group. For more information, visit their website, www.cpmgroup.com
*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
