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Crypto Trends

The war of tariffs and Trump’s comments in Gaza

    summary:

  • The price of gold is likely to remain on an upward path for several days in a row unless there is a breakthrough in the war of continuous tariffs.

The price of gold increased to its highest levels on Wednesday, based on the safe demand for the resort, as wars of commercial tariffs and the Middle East Jiusis occupied the center of the lead. The yellow metal rose to $ 2865 an ounce in the instant market in the Asian trading session, where 0.5 % recorded in gains during the day. Moreover, the metal is in its path to record the fifth consecutive day of gains, which confirms strong feelings of rise.

The war of tariffs and Trump’s comments on the price of gold in Gaza

China has declared anti -reserve picnics against a set of imports from the United States, including coal, liquid natural gas (LNG), agricultural equipment and others. US President Donald Trump announced a 10 % tariff for Chinese imports during the weekend, but stopped the customs tariff by 25 % against goods from Mexico and Canada for at least 30 days after penetrating the negotiations.

In addition, China has informed many American companies, including the technology giant, Google that it can be targeted in an expanded tariff slice. The US tariff began on Tuesday, and President Trump’s statement that “there is no hurry” to negotiate with his Chinese counterpart, Xi Jinping can escalate the war. However, China has delayed the implementation of the customs tariff until February 10 to provide a field of negotiations.

The war of customs tariffs that incite the best of the worlds in the world can have far -reaching effects around the world, raising the appetite of gold safe haven. Meanwhile, President Trump’s comments, which calls for the United States’ acquisition of the Gaza Strip, can lead to a new crisis in the Middle East, and may threaten the newly signed ceasefire between Israel and Hamas. It is expected that the leaders of the Middle East and North Africa will respond to these comments that can add to the price of gold.

Gold price prediction

Gold prices prevail at $ 2,845, and the upward trend will prevail if the procedure remains above this level. The momentum is likely to fulfill the first resistance at $ 2865. However, expanded control by buyers can clarify that obstacle and possibly test $ 2,875.

On the other hand, the momentum will turn to the downside if Xauusd is broken into less than $ 2,845. With sellers control, the gold price is likely to move to the first support at $ 2,835. Meanwhile, the bullish narration will be invalid if the price decreases below this level. Also, the resulting momentum can take the price of the commodity less to test $ 2,830.

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