- Xau/USD extends in the midst of geopolitical tensions despite American solid job data
- American customs duties begin on Canadian aluminum and steel imports on Wednesday, which enhances the attractiveness of safe gold.
- The market is waiting for inflation data in CPI on Wednesday and PPI on Thursday for the following Federal Reserve Guides.
Gold (Xau) gathered on Tuesday, when the trade war stimulated the demand for yellow metal due to its safe attractiveness. Optimistic function data of the United States (the United States) has been ignored by merchants, who continued to consolidate alloys. Xau/USD is trading at $ 2,917, an increase of more than 1 %.
The feelings have recently improved as Canada and the United States have canceled the correction of the threat of identification. Fears regarding the economic slowdown in the United States exert a severe pressure on the US cabinet revenues and Greenback, which is the back wind of alloys.
Meanwhile, Trump’s commercial definitions will enter the aluminum and steel imports on Wednesday. The American Labor Statistics Office (BLS) revealed that job opportunities rose in February.
Urgent news from Saudi Arabia revealed that Ukraine is ready to accept the ceasefire proposal. “It is now up to the United States to persuade Russia to agree to a ceasefire,” added Ukraine President Volodimir Zellinski.
This can be like the winds of gold, which tend to rise due to high geopolitical tensions and woven fears.
Meanwhile, Xau/USD trading wearing the Consumer Prices Index (CPI) in the United States on Wednesday, followed by the PPI price index on Thursday.
Digest Market Mark: The price of gold is not annoyed by the high revenues of the United States
- Treasury bonds in the United States will recover for 10 years and increase six basis points to 4.282 % with the attention of traders from interest cuts at the Federal Reserve.
- The real returns of the United States, as measured by protected securities in the 10 -year treasury bonds in the United States, which are inversely linked to gold prices, climbing five and a half basic points to 1.963 %, which is a reflective wind of unprotected minerals.
- ATLANTA FED gross domestic product is now predicted by 2.4 %, which will be the first negative printing since the Covid -19 pandemic.
- The US Jolts report showed that job opportunities increased to 7.740 million in January, an increase of 7.508 million, exceeding 7.63 million expectations, indicating the continued strength in the labor market.
- The People’s Bank in China (PBOC) continues to buy gold, according to the World Gold Council (WGC). PBOC has increased its shares by 10 tons in the first two months of 2025. However, the largest buyer was the National Bank of Poland (NBP), whose reserves increased by 29 tons, and its largest purchase since June 2019, when it bought 95 tons.
- The price of money market traders was 77.5 basis points for mitigation in 2025, an increase of 74 basis points last Friday, through data from the main market station.
Technical expectations Xau/USD: The price of gold is advancing after $ 2900
Technically, the gold continues in the direction, but buyers need to wipe the peak last week at $ 2930 on March 7 so that buyers can challenge the psychological brand. The latter breach will offer the record height at $ 2,954, followed by a brand of $ 3000.
On the contrary, if Xau/USD decreases to less than $ 2900, the next support will be $ 2,850 before the lowest level on February 28 at $ 2,832. So it will be 2800 dollars.
Customs fees are common questions
Customs duties are useful customs duties on some imports of goods or a category of products. Customs duties are designed to help local producers and manufacturers to be more competitive in the market by providing the price feature on similar goods that can be imported. Definitions are widely used as fever tools, along with commercial barriers and import shares.
Although customs tariffs and taxes generate government revenues to finance public goods and services, they have many differences. Customs duties are pre -paid in the entry port, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and companies, while customs duties are paid by importers.
There is a school of thought between economists regarding the use of definitions. While some argue that definitions are necessary to protect local industries and address commercial imbalances, others see them as a harmful tool that can push prices up in the long term and lead to a harmful commercial war by encouraging customs tariffs.
During the period before the presidential elections in November 2024, Donald Trump explained that he intends to use the customs tariff to support the American economy and American producers. In 2024, Mexico, China and Canada accounted for 42 % of the total imports of the United States. During this period, Mexico emerged as the best source with $ 466.6 billion, according to the American Statistical Office. Thus, Trump wants to focus on these three countries when imposing definitions. It is also planned to use the revenues created by definitions to reduce personal income taxes.