Trading gold prices with a slight negative bias; Standing over a $ 2,900 area before the FOMC Federal Committee meeting

• Gold prices decrease as bulls choose to reduce their bets before the minutes of the Federal Committee meeting were issued.
• Fears about Trump’s tariff plans and commercial war concerns support the commodity.
• The federal reserve reducing stakes are weakening the US dollar and operating favorable winds for the Xau/USD husband.

Gold prices (Xau/USD) fall close to its highest level ever, although they can comfortably fix over the 2900 dollar barrier during the Asian session on Wednesday. The general positive tone of risk pays some investors to reap profits about the precious metal as a safe haven amid some re -concentration operations before the minutes of the Federal Open Market Committee report. Investors will look forward to new signals on the course of reducing interest rates by the Federal Reserve (Fed), which in turn will affect the US dollar (USD) and offer a new boost to the yellow metal that does not generate return.

At the same time, the increasing acceptance that the federal reserve will reduce interest rates further keeps the US dollar bulls in a defensive position and works as favorable winds for gold prices. Otherwise, the uncertainty surrounding the customs definition plans of US President Donald Trump, which may lead to a global trade war, may contribute to reducing any meaningful corrective decline in alloys. Therefore, it would be wise to wait until strong continuous sales occur before confirmation that the Xau/USD pair has reached its peak and put down aggressive and aggressive stakes.

Gold prices are under pressure from the positive tone of risks amid some re -concentration before the minutes of the Federal Open Market Committee meeting

• Optimism about the postponement of the implementation of the mutual tariffs of US President Donald Trump and the conversations aimed at ending the ongoing war between Russia and Ukraine stimulated some profit reaping on gold prices on Wednesday.
• Investors are still concerned about the possibility of escalating global trade tensions against the background of Trump’s protectionist policies. This, in addition to bets on more policy relief by the Federal Reserve, supports gold as a safe haven.
• The disappointing numbers of US retail sales issued on Friday, as well as mixed signals on inflation, indicate that the US Central Bank may reduce interest rates at the monetary policy meeting in September or October.
• In fact, future interest contracts believe that there is a possibility to reduce 40 basis points by the end of this year. This keeps the US dollar (USD) under control of his recovery from its lowest level in two months and must support more Xau/USD pair.
• The head of the Federal Reserve Branch in San Francisco Marie Dali said on Tuesday that the US Central Bank must maintain short -term borrowing costs as they are until the progress towards achieving the goal of inflation of 2% is more clear.
• Therefore, the market focus will remain on the issuance of the Federal Reserve Meet for the month of January, which will be seen for evidence about the interest rate path of the central bank and its impact on the yellow minerals that are not paid on the return.

Gold prices need to wait until a sustainable penetration over the obstacle of short -term trading

From a technical perspective, the limited price movement may still be classified as a bullish consolidation stage in light of the last strong movement towards the standard summit. However, the RSI is still close to the purchasing saturation area and supports the prospects for the extension of the cumulative price movement. However, the preparation still tends in favor of the bulls and indicates that a less resistant path for Xau/USD pair remains in the upward direction.

Meanwhile, you may find weakness without a $ 2,925 region some support near a $ 2,900 region before 2,878-2,876 or a lower limit of short-term trading range. The unknown penetration may lead to the withdrawal of gold prices to the 2,860-2,855 area on its way to the 2,834 area. Failure to defend the aforementioned support levels may motivate some technical sales and withdraw Xau/USD pair towards a 2,815 area on its way to a 2,800 area and 2,785-2,784.

On the other hand, the 2,940-2,942 region may last, or the highest standard level reached earlier this month, at work as an immediate strong barrier. Some continuous purchases will be a new catalyst for rising traders and set the foundation to extend the firm upward trend that we have seen over the past two months or so.