- Gold jumps are higher for a third consecutive consecutive and hit the highest new level ever on Wednesday.
- US President Donald Trump blames Ukraine and committed again in many customs tariffs.
- Technically, it was closed on Tuesday, which exceeds $ 2,910, which enhances the price of gold to the highest new level ever.
Gold’s PRICE (Xau/USD) believes that its victory chain is moving forward this week and reaches the highest new level ever with more than $ 2945 during the European trading session on Wednesday. The edge comes US (United States) President Donald Trump’s harsh words on Ukraine overnight, just hours after the first talks between the United States and Russia officials raised concerns among merchants if a peace deal even on cards. Meanwhile, President Trump once again emphasized that the customs tariff by 25 % on car imports is coming, extending to drug imports and semi -conductors in addition.
At the same time, and Federal Reserve (Fed) The FOOMC Committee (FOMC) is scheduled to issue the January meeting minutes. This can cast a key to gold work, as many federal reserve officials said in the last weeks of that Rates It is reasonable where it is while some inflationary forces are sufficient for renewable fears.
Digest Market Mark: Expand customs duties
- At 19:00 GMT, the Federal Reserve will release FOMC minutes in January.
- Late on Tuesday, US President Donald Trump pledged to impose a tariff on cars, semi -conductors, and pharmaceutical imports around 25 %.
- Turkish gold miners aimed at producing more than 40 tons of gold in the next five years, as the company says in a exchange file after the market was closed on Tuesday, according to Bloomberg reports.
- The US standard is traded for 10 years at the highest level of this week, near 4.56 % at the time of writing this report.
Technical Analysis: Fed to be the cause of anxiety
Gold plays a dangerous game on Wednesday after reaching the highest new level ever above $ 2945. With the deployment of the Federal Reserve minutes to hold the January meeting later in the day, the risks are built for an event that may push gold back. From a technical point of view, this can be considered rejection at the highest level ever and sellers may see more prices.
The central daily points have been reformulated. The first support appears at $ 2,921, which is the daily axial point. It was already a support during the Asian trading session. If this level is threatened again, the S1 support at $ 2906 can do its duty.
On the upper side, the R1 resistance at $ 2951 is the first barrier. R2 resistance at $ 2,966 is the next level that is accessed before considering the $ 3,000 sign.
Xau/USD: Daily chart
Common Gold questions
Gold played a major role in human history, as it was widely used as a store for value and exchange. Currently, regardless of its brilliance and use of jewelry, the precious metal is widely seen as a safe asset, which means it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against currency decline because it does not depend on any specific source or government.
Central banks are the largest gold holders. In their goal to support their currencies at troubled times, central banks tend to diversify their reserves and buy gold to improve the powerful power and currency. High gold reserves can be a source of confidence to the dissolved country. Central banks added 1136 tons of gold worth $ 70 billion to their reserves in 2022, according to the data of the Golden Golden Council. This is the highest annual purchase since the start of the records. Central banks of emerging economies such as China, India and Turkey increase their gold reserves.
Gold has a counter -relationship with the US dollar and the United States Treasury, which is one of the main reserves and safe assets. When the dollar decreases, gold tends to rise, allowing investors and central banks to diversify their assets at turbulent times. Gold is inversely associated with the origins of the risk. The assembly in the stock market weakens the price of gold, while sales in the most dangerous markets tend to prefer precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of deep stagnation can escalate the price of gold due to its safe situation. As a lower asset than the return, gold tends to rise with low interest rates, while the high cost of money usually reaches the yellow metal. However, most moves depend on how the US dollar (USD) is behaved as the original is priced in dollars (Xau/USD). The strong dollar tends to maintain the price of gold -controlled gold, while the weakest dollar is likely to increase the price of gold.
2025-02-19 10:47:35