- Gold fades from $ 2900 after failed attempts earlier to restore level on Monday.
- The geopolitical headlines will lead the markets this week with newspapers on Ukraine.
- The daily closure of more than $ 2900 will lead to more climbing to gold this week.
Gold’s PRICE (Xau/USD) softens a touch in the middle of the road during the European trading session on Monday, less than $ 2900 at the time of writing this report. While the United States (United States) markets are closed due to the bank’s holiday on President’s Day, Federal Reserve (Fed) is not. On the day of wind trading, at least three speakers of the Federal Reserve will be released in an empty way otherwise The total economic evaluation.
Meanwhile, the weekend was run again with many geopolitical news And comments. US President Donald Trump and Russian President Vladimir Putin will meet each other Kingdom of Saudi Arabia To discuss peace inside Ukraine. Ukraine nor Europe is invited to these talks, while both American and Russian officials are already.
Daily Digest Market Movers: Tariffs and Ukraine Confidential Talks
- Market participants are waiting for more ideas about President Trump’s mutual plans, which may increase global trade tensions. Besides, the car fees will come on April 2, according to Bloomberg reports.
- If the Senator Senatea Lomes’s suggestion becomes more realistic, Bitcoin may join gold. Senator suggested adding Bitcoin to the US reserves on Sunday, with a highlight of the Blockchain network and access to it.
- At 14:30 GMT, the Federal Reserve in Philadelphia Patrick Harker gives a speech on the economic outlook at the Central Banking Series Conference at the University of the Paham Islands in NASO.
- At 15:20 GMT, the governor of the Federal Reserve, Michelle W. Bowman, made short statements about the economy and banking organization at the American Banking Society Conference (ABA) for community supporters in Phoenix, Arizona.
- Outside this Monday, at 23:00 GMT, Governor Christopher J. And wiring the economic outlook at the macroeconomic workshop in Sydney, Australia.
Technical analysis: trim down
Gold regains and trades more than 2900 dollars on Monday after a decrease of 1.5 % on Friday. However, keep in mind that the American bond markets are closed on Monday because of the bank holidays on the day of the president. Find the main headlines in Ukraine and potential new ads about definitions.
The first support level on Monday, the S1 support, reaches $ 2,859. Moreover, the S2 support at $ 2,836 should be a protection and prevents any additional drops to a more important level of $ 2,790 (October 31, 2024, high).
In the upward direction, The Daily Pivot is $ 2,899 is the first level that regains it again. Next, R1 resistance at $ 2922 is the first level to be recovered, followed by R2 resistance at $ 2962. Moreover, the psychological level of $ 3000 can be the next.
Xau/USD: Daily chart
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 taxpayers and individual work, 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.
2025-02-17 13:37:24