The price of gold stops the gains, China inflames American definitions, and the recession fears are strengthened

summary:
• Certainly, the price of gold is scheduled to remain on the upward path with the growth of the risk of risks and the tariff

He headed the price of gold down on Friday, as it retracted record levels, ignoring the escalation of a global trade war. Immediate gold was traded on the market by $ 3,071 and decreased by 1.39 % at the time of writing this report, hours after China announced the reprisal tariffs against the United States.

The feeling of risks has put merchants in an unstable location, with a limited pastoral Gold from the belief that the United States will eventually enter negotiations with its commercial partners. The pressure on the largest economy in the world is escalating, as many analysts predict stagnation.

This opinion was just confirmed through the weak job data issued on Friday. Non -farm salary numbers in the United States were printed in March at 228,000 compared to the average expectations of 137,000 expectations, and increased dramatically from 117,000 February. However, the unemployment rate grew by 4.2, with an analyst expectation rate of 4.1 %.

The retail environment created by the customs tariff can exacerbate matters, leading to pressure on the US dollar. The demand for gold is likely to increase dramatically in the coming weeks, as more investors are separated from the dollar due to poor expectations for the American economy.

Also, the high price of gold is supported by the increasing likelihood that the Federal Reserve announces a reduction in the interest rate in May to accommodate the impact of commercial tariffs on the economy.

Gold price prediction

Pivot: The gold price axis at $ 3,074 and momentum is currently preferred the downside. The declining procedure is likely to find the first support at $ 3,048. If this momentum strengthens, the price will collapse below this level and test the second support at $ 3,024.

Instead, the procedure above the axis level will control buyers. The upper momentum is likely to fulfill the first barrier at 3,091 dollars, but the expanded control by buyers will come out of this mark and nullify the negative narration. Moreover, the resulting momentum can send a higher xuusd pair to test $ 3,110.