- The edges of gold prices are lower in the early Asian session on Friday, which were pressured by achieving profits.
- Fixing uncertainty about customs tariffs and recession fears can enhance safe flows, which supports the price of gold.
- Dali is scheduled to speak at Fed’s later on Friday.
The price of gold (Xau/USD) maintains Friday after it decreased from its highest level ever of $ 3358, as investors reserve profits during a long weekend of Easter. The great uncertainty of US President Donald Trump’s tariff for imports in the United States and continuous geopolitical tensions can support the price of gold, which is known as a safe haven.
On the other hand, Jerome Powell’s Federal Reserve Chairman (FERED) turned into a honesty, which reduced the possibility of reducing the federal reserve rate in June. This, in turn, can raise Greenback and weighs the price of goods provided by the US dollar. Powell said that the weak economy and high inflation can conflict with the goals of the Federal Reserve and make the recession scenario possible. Mary Dali is scheduled to speak Federal Reserve (Fed) later on Friday. The trading volume is likely to be diluted on the great Friday.
Gold prices drift on the great Friday
- “Gold is still strongly supported by a widely weaker dollar, and the uncertainty about tariffs and concerns about global recession,” said Lukman Autonoja, chief research analyst in the online trading broker.
- The unemployed demands for the American initial work for the week ended on April 12 to 215,000, according to the US Department of Labor (DOL) on Thursday. This number came below the initial estimates and was less than the previous week than 224 km (it was reviewed from 223k).
- The unemployed demands for the continuous work increased for the week ending on April 5 by 41 kilos to 1.885 meters compared to 1.844 meters (reviewed from 1.85 meters).
- American construction permits increased by 1.6 % to 1.482 million in March, which exceeds 1.45 million. Meanwhile, the start of housing decreased to 1.324 million in March from 1.494 million in February (reviewed from 1.501M).
- The price of money market traders in approximately 86 basis points of discounts in the prices of the Federal Reserve by the end of 2025, with the expectation of the first discount in July, according to the CME Fedwatch tool.
The remaining ups of the remaining, rust, rsi optic in the bulls of the bulls of the bull
The price of gold is trading on a flat note per day. The valuable metal maintains the biological vitality on the daily time frame, which features a price that is held higher than the SIA moving average for 100 days. However, the 14 -day relative indicator (RSI) moves over the mark of 70.00, indicating excessive conditions at the peak of purchase and summons some caution. This indicates that more monotheism or temporary sale on cards.
On the bright side, the immediate resistance level for viewing is $ 3,355, which is the upper boundaries of the Bollengerer. Continuous trading above the aforementioned level can pave the way to the psychological level of $ 3400.
In the event of a decline, the lowest level on April 18th at $ 3,230 works as an initial support level for Xau/USD. To the south, the next dispute level appears at $ 3,105, the lowest level on April 2.
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.
