- Gold jumps at US President Donald Trump’s cruel talks on the definitions.
- Stagnation fears and growth fears are still high among merchants, while the tariff war continues.
- Merchants turn to safe guaranteed assets with a mutual tariff approach.
The price of Gold’s (Xau/USD) has reached the highest new level ever at 3,004 earlier, before declining to less than $ 3000, still records a weekly profit for more than 2.5 % at the present time in writing this report on Friday. The additional flow and demand for alloys came after the President of the United States, Donald Trump, fired European anti -counter -models, saying that he would slap with 200 % on wine and chimpania from the region.
This has led to the interruption of market participants to the belief that all bets are parked and that US President Trump will not retreat or reduce his position on the definitions, which raises more concerns about growth and demand for risk origins. Meanwhile, American revenues struck the highest level in five days on Thursday before they retreated.
Digest Market Mark: GPS on customs duties
- President Donald Trump’s aggressive agenda has indicated concerns about growing capabilities, and harm to the demand for risk assets and assistant flows to alloys backed boxes, Bloomberg said.
- Some Chinese jawhara stocks increased dramatically this week. On Friday, Zhejiang Ming Jewery Jewelry increased in the main land list by 10 % for the fourth day. The Chow Tai Fook Jewelry’s group has also increased, indicating that traders are looking for related companies that can benefit from the high price of gold, according to Bloomberg reports.
- Marcus Garvi, who was held on Thursday, indicated that property is still 20 % less than its previous peak in 2020.
- The CME Fedwatch tool sees a 97.0 % chance of lack of changes in the interest rate at the upcoming Federal Reserve meeting on March 19. Prices reduce opportunities at the May 7 meeting currently advance by 30.3 %.
Technical analysis: Watch out for profit
The mark of $ 3000 was rapidly operated just one day after one day that the French bank BNP Paribas said that $ 3200 would be the target price for gold for the second quarter. As European and American sessions continue at the forefront, a higher racing can be achieved. However, merchants must refrain from entering a $ 3,000 break because this level will most likely achieve some profits in the short term.
The highest new level can be easily out of $ 2,993 at any time now. Look for a psychological mark of $ 3,000 on the way. After this level, it is an unknown area where resistance and support from the daily axle point can help direct the direction. R1 resistance daily at $ 3,007 and R2 resistance at $ 3,026 is definitely levels to search for them.
On the negative side, the daily PIVOT POINT points are $ 2,970. In the event of the outbreak of this level, see the support of the S1 about $ 2,951. Moreover, the S2 support is $ 2,914, preceding the large number of $ 2900, which must be strong enough to capture any corrections.
Xau/USD: Daily chart