- Discover the technical analysis of gold and prediction of the price that mentions the factors that affect the direction of the price of Xauusd.
The price of gold has decreased slightly in response to hope that the United States and China will improve in the commercial deal, making gold less interesting for investors at the present time.
The United States (CPI) on Tuesday, increased the potential for reducing interest rates by the Federal Reserve, and the US dollar was relatively impact.
On the other hand, global tensions can prevent gold prices a lot from declining, so investors who are betting that gold will continue to decrease.
The main engines of the gold:
- On Monday, President Donald Trump said he was not expected to return the customs tariffs on Chinese imports to 145 % after a 90 -day stop, adding that Washington and Beijing would reach a deal.
- The US producers’ price index data will be issued on Thursday, which is another indicator of the Federal interest rate decision. While the markets are still pricing in the possibility of interest rates by 53 points by the Federal Reserve this year, starting in September.
- On the geopolitical side, Russia and Ukraine will hold their first major meeting since 2022, this week in Istanbul, with the aim of a month’s ceasefire. US Secretary of State Marco Rubio will attend this meeting.
- The Israeli army announced that there was an objection to a ballistic missile that Iran fired from Yemen towards Ben Gurion Airport near Tel Aviv on Tuesday evening. This raises geopolitical risks, which may prevent merchants from maintaining hippos on gold. Gold price forecast for 2025, 2027, 2030
Prediction of gold prices: Technical Analysis of Xauusd
From the technical perspective, gold prices are now being traded under pressure due to the aforementioned market events, but it exceeds $ 3,200 comfortably, which is strong support. The subsequent collapse of less than $ 3200 will confirm the declining direction and make the price of gold weak, then test the support level of $ 3182.
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On the other hand, the region is between 3263-3266 dollars is the critical area; Above this area, the price of gold can reach $ 3,300, starting with a fracture above 3288 dollars, and will confirm a clear daily closure mode over the upper direction.
