• Daily market updates

• #Commodities

Global Markets Start April with Mixed Momentum

Metals and stocks rise while oil weakens and the dollar declines

At the beginning of April, global financial markets showed mixed performance. Precious metals, led by gold and silver, continued to gain supported by a weaker dollar and increased demand for safe-haven assets. In contrast, oil prices showed notable weakness due to concerns over slowing global demand. Stock markets maintained their upward trend, supported by investor optimism regarding stable monetary policies and improving macroeconomic indicators in several major economies. Investors are closely watching upcoming economic data releases that could shape market direction in the short term.

XAUUSD chart H1 timeframe

The XAU/USD pair on the H1 timeframe shows a clear upward movement inside an ascending triangle pattern, reflecting sustained buyer control in the short term. The price respects the ascending trendline, forming higher highs and higher lows, supporting the likelihood of continued positive momentum.

Prices are currently approaching strong resistance around the 4760–4780 level. If the price manages to break above and hold this range, the upward move is expected to extend towards higher targets such as 4820 and then 4890.

Conversely, a break below the ascending trendline would signal weakness in the uptrend and could prompt a retest of support areas around 4625–4600. If the decline continues, the price might reach stronger support levels at 4500 followed by 4355.

The MACD momentum indicator supports the bullish scenario, moving in positive territory with a gradual increase in buying strength.