Gold Price Trends as Metal Declines from Historic Peak
38 minutes ago
The price of gold (XAUUSD) experienced a drop once again on Friday, continuing a volatile pattern for the precious metal.
Earlier this week, gold reached its all-time high close to $3,500 on Tuesday but fell sharply on Wednesday as investors reacted to news regarding tariffs and recalibrated their risk tolerance.
Since the beginning of the year, the value of gold has increased by about 25%, spurred on by concerns that tariffs might hinder economic growth and trigger inflation, prompting a rush towards this safe-haven asset known for hedging against rising costs.
Following its record high, gold showed a significant intraday reversal, creating a bearish shooting star candlestick pattern. This downward trend also aligned with a notable decline in the relative strength index (RSI), falling below overbought levels and indicating a significant shift in momentum.
Long-term, gold has shown a rapid upward trend since mid-December, following a basic Elliot Wave pattern characterized by five distinct price swings, which generally precede a corrective phase.
Investors should monitor critical support levels on the gold chart at approximately $3,145, $2,955, and $2,790, while a crucial resistance area remains near $3,500. Currently, gold is trading down 1.8% at $3,290 an ounce.
Tesla Shares Surge as US Eases Self-Driving Regulations
2 hours 16 minutes ago
Tesla (TSLA) stocks surged on Friday, continuing a rally following CEO Elon Musk’s commitment to focus more on the company and underlining the Trump administration’s initiative to relax self-driving car regulations.
The stock rose over 9% in recent trades, positioning Tesla as one of the leading performers on the S&P 500 and Nasdaq.
The recent shift by the Trump administration promises to simplify the regulations surrounding autonomous vehicles to enhance U.S. competition against Chinese companies.
U.S. Secretary of Transportation Sean P. Duffy highlighted that the strategy aims to foster innovation while maintaining safety standards.
Musk mentioned that Tesla anticipates launching fully autonomous rides in Austin, Texas, in June, with plans for further expansion to other cities later this year and becoming significantly impactful by mid-2026.
Tesla’s share prices have climbed by about 17% this week, despite the stock enduring a 30% decline since the year began.
Alphabet’s Stock Rises on Optimistic Analyst Predictions
2 hours 55 minutes ago
Shares of Alphabet (GOOGL), Google’s parent company, increased on Friday after multiple analysts raised their price targets for the stock following the company’s positive quarterly results and early successes in AI features.
Alphabet’s Class A shares were recently up 2% to $165, making it one of the top performers within the S&P 500.
Citi analysts have raised their price target to $200 from $195, citing the rising use and monetization of AI-driven features in search, particularly AI Overviews.
Bank of America and Wedbush also increased targets to $200, emphasizing Google’s competitive advantage in AI growth compared to rivals like OpenAI.
CFO Anat Ashkenazi mentioned that Alphabet plans to invest $75 billion in capital expenditures this year, largely for developing AI infrastructure, which is expected to bolster organizational resilience amid fluctuating economic conditions.
T-Mobile US Shares Drop Due to Sluggish Subscriber Growth
3 hours 41 minutes ago
T-Mobile US (TMUS) shares fell sharply after the company reported lower-than-expected wireless customer additions and alerted customers of potential price hikes due to upcoming tariffs.
During the first quarter, T-Mobile added only 495,000 new postpaid phone customers, down from last year’s figure, while analysts were expecting 499,000. The company’s churn rate saw a 5 basis point increase to 0.91%.
CEO Mike Sievert expressed concerns about new tariffs impacting the customer base, underscoring that any substantial tariff increases would likely be passed on to users, highlighting the fragility of their model.
Despite reporting earnings per share (EPS) of $2.58 on revenues that grew nearly 7% year-over-year to $20.89 billion, the news overshadowed the company’s performance.
Following the announcement, T-Mobile shares were down more than 9%, eroding a year-to-date gain to about 7%.
Major Stock Indexes on Track for Positive Week
4 hours 28 minutes ago
Major stock indexes in the U.S. are poised to close the week with gains after three consecutive days of significant upward movement.
Through Thursday, the Dow was up 2.4% for the week, while the S&P 500 and Nasdaq rallied 3.8% and 5.4%, respectively, although these figures are still below the prior week’s gains.
Despite this week’s increases, the indexes remain in negative territory for the month, with the Nasdaq marginally so.
