- Cryptocurrency
Major cryptocurrencies traded mixed on Thursday after US Federal Reserve Chair Jerome Powell warned of the risks of slowing growth and rising inflation due to potential tariffs. Bitcoin rose 0.7% to $84,612, while Ethereum gained 1.6% to $1,600. The global crypto market cap edged up 0.2% to $2.64 trillion. Among altcoins, XRP, Solana, Dogecoin, Cardano, and Chainlink surged up to 4%, while BNB, Tron, Sui, Litecoin, and NEAR Protocol declined as much as 3%.
Bitcoin remains steady above $84,000, showing resilience despite broader market weakness. A brief move to $86,000 was reversed after the US Fed Chair warned of growing economic risks from its tariff policies. Analysts are closely watching key levels — a breakout above $88,000 or a fall below $80,500 could set the next trend.
Despite Bitcoin’s relative stability, market sentiment remains cautious as the US announces potential tariffs on China, adding to macroeconomic uncertainty. In the short term, price action across major tokens may remain subdued or volatile, depending on miner activity, Ethereum upgrades, and regulatory news from the US and China.
Despite accumulation by large investors, selling pressure remains due to macroeconomic headwinds and ETF outflows. While April has historically been a strong month for Bitcoin, current conditions call for cautious optimism.GoldGold has enjoyed its best start to the year since the 1970s – having risen over 27% year-to-date, effectively surpassing last year’s gains. It soared to yet another all-time high of $3,357.78 an ounce, registering its biggest one-day gain of 3.5% since March 2023 on Wednesday. Tariff jitters and the dollar’s decline to a six-month low contributed to its rally, in addition to central bank purchases and ETF inflows. Trade negotiations are underway between the U.S. and Japan with the aim of reaching a deal within the 90-day grace period. However, Trump is pressuring other countries to curb trade with China, given the nation’s defiance of Trump’s demands. Tariff uncertainty continues to support demand for safe haven instruments like gold. Gold is down 0.78% at $3,317.34, with support at $3,270 and resistance at $3,357.
Gold prices in the UAE are as follows:
24 Carat – AED 402.75
22 Carat – AED 372.75
21 Carat – AED 357.50
18 Carat – AED 306.50
