- The price of positive gold restores positive traction after the modest withdrawal overnight.
- Trade war concerns continue to act as the back wind of the safe Xau/USD husband.
- Reducing the rates of bets in the federal reserve rate and the compressed demand in the additional US dollar to provide support to alloys.
The price of gold (Xau/USD) is committed to its modest gains during the day during the first half of the European session on Friday and is still close to the peak that was touched earlier this week. Fears regarding the strict trade war and the United States and the potential economic repercussions of US President Donald Trump’s aggressive policies are still on the basis of demand for safe alloys.
At the same time, the US dollar (USD) is struggling to obtain any meaning of the meaning of the stakes that the Federal Reserve (FED) will reduce borrowing costs twice this year, which led to the last sharp decline in the returns of US Treasury bonds. It turns out that this is another factor that works as a background for unvinuous yellow minerals before reporting the non -cultivated salary statements in the United States (NFP).
The price of gold is supported by a set of supportive factors
- China has announced definitions of some American goods in retaliation for US President Donald Trump by 10 % on Chinese imports. This represents a new trade war between the best two economies in the world and continues to support the price of safe gold.
- On the Economic Data Front, the US Department of Labor (DOL) stated on Thursday that the number of American citizens who submit new unemployment insurance has increased to 219 thousand for the week ending February 1, from a review of the previous week of 208K.
- US Treasury Secretary Scott Beesen said on Thursday that the Trump administration was not particularly interested in the Federal Reserve on interest rates and that the focus on reducing treasury revenues for 10 years.
- The return on US government bonds has decreased for 10 years to its lowest level since December 12 earlier this week amid bets that the federal reserve will reduce interest rates twice by the end of 2025, which increases this of unsuccessful yellow metal.
- The head of the Federal Reserve in Chicago, Austan Golsby, pointed out that the appearance that stops inflation is significantly due to the basic effects and that the central bank must realize the high temperature and deterioration, but things are going well.
- The Speaker of the Models in Dallas Lori Logan said that the progress of inflation was great, but the American labor market is still very firm to push the central bank to price cuts anytime soon. This, however, is not mentioned to persuade the US dollar.
- Market participants are now looking to a non -agricultural salary report, which is expected to show that the economy added 170,000 jobs in January compared to 256,000 in the previous month and the unemployment rate is fixed at 4.1 %.
- The decisive data will affect the market expectations about the interest rate expectations in the Federal Reserve, which in turn must play a major role in paying the demand for the dollar in the near term and determining the following leg of the directional step for Xau/USD.
The bulls of gold prices seem to be hesitant, amid a slightly peak peak conditions
From an artistic perspective, the apostasy overnight and the subsequent action on Friday in positive expectations in the near term of the price of gold. However, the RSI Index (RSI) has flourished with slightly excessive conditions in the daily scheme and calls for some caution for upscale merchants. Consequently, it would be wise to wait for some monotheism in the short term before determining the extension of the last firmly established upward trend of the monthly basin in December.
Meanwhile, the horizontal area of $ 2855, followed by a decrease in the night swing, about $ 2,834, can provide some gold price before a region of 2,815-2714 dollars. This follows the brand of $ 2,800, which if it is decisively broken, it may raise some technical sales and Xau/USD to the resistance point of the resistance 2773-277 dollars. The latter coincides with the lowest weekly level, and the disguised break below must pave the way for a deeper correction.
Economic indicator
Non -agricultural salary statements
The issuance of non -agricultural salary statements provides the number of new jobs created in the United States during the previous month in all non -agricultural companies; It is released by American work statistics office (BLS). Monthly changes in salary statements can be very volatile. The number is also subject to strong reviews, which can also lead to volatility in the Forex plate. In general, high reading is seen as a bullish country for the US dollar (USD), while low reading is considered declining, although previous months and unemployment rates are related to the main number. Therefore, the market reaction depends on how the market evaluates all the data in the BLS report as a whole.
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Common questions between the United States of China for war
In general, the trade war is an economic conflict between the two countries or more due to severe protectionism at one party. It involves the creation of commercial barriers, such as customs tariffs, which lead to anti -import barriers, and to import costs, and thus the cost of living.
The economic conflict between the United States (the United States) and China began in early 2018, when President Donald Trump laid commercial barriers on China, claiming unfair commercial practices and theft of intellectual property from the Asian giant. China has taken retaliatory measures and imposed a tariff on multiple American goods, such as cars and soybeans. Tensions escalated until the two countries signed the commercial deal for the first stage of the United States of China in January 2020. The agreement requires structural reforms and other changes on the economic and commercial system in China and demonstrated by restoring stability and confidence between the two countries. However, the Koronavus virus’s pandemic took the focus from the conflict. However, it should be noted that President Joe Biden, who took office after Trump, maintained the customs tariff in his place and added some additional fees.
Donald Trump’s return to the White House as an American president ignited 47 new waves of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60 % of the customs tariff on China once he returns to his position, which he did on January 20, 2025. With Trump’s return, the trade war and the United States aims to resume the place where it was left, with its existence, the limit policies In exchange for Tat, which affects the global economic scene, amid unrest in global supply chains, which leads to a decrease in spending, especially investment, and direct nutrition in the inflation of the consumer price index.