The price of gold decreases to cancel the manufacture of trade war and optimistic alphabet profits
- summary:
- The price of gold is pressure as the possibility of China and the United States talks is close. Also, Alphabet’s profits have strengthened the hopes of the technology industry.
The price of gold was traded down at the New York session on Friday, as it lost 2.1 % of its value and reaches 3,275 dollars in the immediate market when writing type. The commodity has fallen under pressure from the decline in aversion to risk as commercial introductory tensions between the United States and China melting ice.
On Friday, the media reported that China was considering exempting some American goods from 125 % commercial tariffs. In addition, it is said that the second largest economy in the world is exploring a den of definitions with the European Union. This may expand the global market and add the declining pressure to the price of gold.
Earlier in the week, US President Donald Trump stated that commercial talks and the United States of America may get a large number of weeks to three weeks. This has begun to calm down from Hoor, the high risk risks that have dominated the markets in recent weeks.
Meanwhile, the profits of expectations in Alphabet are injecting positive momentum into the markets that can increase the rapprochement towards stocks, which reduces the demand for safe haven gold. The giant technology company recorded revenues amounting to $ 90.23 billion, overcoming the total expected number of 89.17 billion dollars for the quarter ending in March 2025.
In addition, EPS reached $ 2.81, and analysts number exceeding $ 2.01. Moreover, the re -purchase of $ 70 billion announced, confirming the good times for the artificial intelligence industry despite the recent market problems. This feeling may permeate in the wider stock markets.
Gold price prediction
Gold price axis at $ 3,297 and control momentum by sellers. He may find the first support for $ 3,277. The stretch momentum will break down this level and can take less to test 3,252 dollars.
On the contrary, going over $ 3,297 will turn the momentum into the upward trend. If this happens, Xauusd is likely to rise to face the first barrier at $ 3,316. A fracture above this level will nullify the narration of the downside. Also, this momentum can extend the negative aspect of a $ 3,340 test.
