- Gold records its highest level with Trump threats to customs tariffs that feed the fears of the trade war.
- The Federal Reserve Meeting reveals concerns about the risk of inflation, which weighs price reduction expectations.
- Traders look forward to US unemployment claims and s & Pire of primary purchasing directors for more market signals.
Gold prices fell on Wednesday during the North American session after the latest minutes of the FBI’s monetary policy meeting showed that all policy makers voted to keep prices unchanged at the January meeting. The gold/dollar pair is trading at about $ 2925, a decrease of 0.31%.
The report showed that federal reserve officials considered almost the risk of dual authorization, while some participants indicated that the possible changes in trade and immigration policy may hinder the process of mitigating inflation. ” Participants indicated that some of the measures of inflation expectations “have increased recently.”
Earlier, gold recorded its highest level ever at $ 2946 during the European session after US President Donald Trump revealed that he would impose 25% definitions on car imports, medicines and chips.
The non -productive metal for returns rose amid the scenario of the trade war. However, it turned into negativity after the issuance of the Federal Reserve report.
Participants in the market will monitor the issuance of initial unemployment claims for the last week and indicators of the initial purchasing managers from the S&P.
Daily market engines: Gold price losses fade after reaching the highest level
- The return of the US Treasury bonds decreased for 10 years by a point and a half (basis point) and achieved 4.535%.
- The real American returns, which are linked to gold prices, decreased by two and a half points to 2.072%, which represents an obstacle to gold prices.
- Because of the weather disturbances, the beginnings of American housing in January decreased from 1.515 million to 1.366 million, or a 9.6%decrease.
- American construction permits improved for the same period, increasing from 1.482 million to 1.483 million, an increase of 0.1%.
- Goldman Sachs raised its expectations for the Xau/USD price to 3100 dollars by the end of the year, as it said that the demand from the central banks “highly high” will add 9% to the price of the non -productive metal for returns.
- The World Gold Council (WGC) revealed that central banks bought more than 54% year on year to reach 333 tons after Trump’s victory, according to his data.
- Federal funds are valid for 40 basis points of facilitation by the Federal Reserve in 2025.
Technical expectations for the gold/dollar pair/USD: Gold prices face strong resistance and decline
Gold prices remain up to rise, although during the past seven days they have not been able to exceed the $ 2950 barrier. Prices seem to have exceeded the limits, which enhances buyers ’loss of momentum.
RSI is about to get out of the purchasing saturation area, which may lead to low gold prices. The first support will be the lowest level on February 14 at $ 2877, followed by the lowest level of February 12 at $ 2864.
On the other hand, if Xau/USD rises above $ 2946, the first resistance will be psychological resistance at $ 2950, followed by $ 3000.
2025-02-19 23:05:34