The price of gold extends, and another ath is hit as waved on the horizon, mutual definitions

summary:
• The price of gold has risen over the past four days in a row, and has increased by almost 20 %. With a customs tariff, Xauusd can only rise.

The price of gold rose to the highest new levels ever of $ 3,149 on Tuesday, on the eve of the mutual definitions in the United States, which President Donald Trump described as a “liberation day”. Although the customs tariff is eliminated, the definitions will be “very nice”, Trump is likely to react a series of reprisal customs tariffs, which can grow into a trade war on a global scale.

Most European countries, including long -term allies, have shown the United Kingdom, the intention of counter -measures against the largest economy in the world. Moreover, the harsh rising trade relations are to enhance the recession fears, in favor of continuing the budget at the price of gold.

The climate is certainly appointed perfectly on the safe gold for flaming to experience the increasing demand, as the central banks are expected to increase their purchases of alloys to support their cellars. According to the Golden Golden Council, central banks are now 20 % of gold purchases, or nearly twice the percentage between 2011-2022.

China has been at the forefront of emerging appetite, buying yellow metal in the past four months in a row. More the world’s largest economies are likely to follow this trend in the coming weeks and months. This may see that the US dollar loses a large part of the attractiveness of safe haven, which can help pushing Xauusd up.

Meanwhile, Trump can announce a different set of definitions that target specific goods such as semiconductors and medicines. It can increase the declining pressure in the stock markets and add support to the price of gold. At the bottom of the line, NFP salaries will appear on Friday, and will provide evidence of the American economy path in a high tariff environment.

Gold price prediction

The momentum on the price of gold calls for more upward trend over the axis point at $ 3,124. The bullish movement is likely to face initial resistance at $ 3,145. A controlled console will become this barrier and set the next goal with $ 3,160.

On the other hand, the transition to less than 3,124 dollars will turn the momentum to the negative side. This first support is likely to witness $ 3,108, after which the list of the upward trend will be invalid. Moreover, this momentum can extend the downside to test 3,094 dollars.