- Golden gatherings said near 1 % on Tuesday after US President Trump said that China, Mexico and Canada are very late in avoiding the customs tariff that struck Tuesday.
- Canada is scheduled to impose a 25 % revenge tariff from Tuesday, while China is scheduled to slap with 15 % on American agricultural commodities as of March 10.
- American revenues are subject again on Tuesday, reaching the lowest level in 5 months at 4.11 %.
The price of gold (Xau/USD) is higher and traded about $ 2,915 at the time of writing this report on Tuesday after more than 1 % rose in the previous day, and another 1 % inherit this Tuesday. This last rise came after the United States (United States) President Donald Trump confirmed on Monday that the customs tariffs of Canada, Mexico and China were ongoing. On Monday, the markets were still if President Trump would still allow the extension to implement the customs tariff based on the efforts made by the two countries to meet the demands of the Trump administration. Apparently, it is too late, with President Trump’s progress in imposing committed customs duties that start on Tuesday.
Meanwhile, Canada and China have already pushed a unilateral tariff from the United States. A statement issued by the office of Canadian Prime Minister Justin Trudeau confirmed that Canada will impose retaliatory definitions on US imports from Tuesday if the American definitions entered into force. “Canada will start with 25 % of the customs tariffs on US imports worth 30 billion Canadian dollars from Tuesday,” read the statement, while the tariff related to definitions on other products worth $ 125 billion of products will enter into force within 21 days.
On the other hand, the Ministry of Trade in China announced early on Tuesday that it would become an additional tariff up to 15 % on imports of major agricultural products, including chicken, pork, soybeans, and beef from the United States. The ministry said that the definitions announced will be valid as of March 10.
In the midst of this trade war against a dream, American revenues roll again. The US index for 10 years reached 4.11 % on the negative side of the early Asian trading on Tuesday. Almost less than five months, and return to levels that have not been seen since mid -October.
Daily Digest Market Movers: Increase to safe havens
- On the geopolitical front, a senior defense official said that the United States was stopping all military aid to Ukraine, according to Bloomberg’s reports.
- After the turning point on Monday, the CME Fedwatch tool is witnessing the interest rate of the market for the Federal Reserve (Fed) by June. The possibilities are currently 85.6 %, with a small chance of 14.4 % to stay unchanged.
- Reuters reports that a series of recent American data showing emerging enlargement and slowdown activity raises concerns that the largest economy in the world can go towards a period of recession, according to Reuters reports.
Technical analysis: He walked quickly
The alloys extend on Monday at the beginning of the European trading session on Tuesday. The domains have become more strict for daily Pivot Point levels, confirming the current frequency between investors after last week’s decline. Watch out for continuing in any direction. However, the uncertainty about a commercial war that reaches his dream will witness the support of gold.
Daily PIVOT POINT offers $ 2,879 and daily R1 resistance at $ 2,903 currently provides support for apostasy and try to push alloys up. In the event of enough gold, the daily R2 resistance at $ 2,917 may be the final maximum on Tuesday before the highest level at $ 2956 reached on February 24.
On the negative side, regardless of the axis mentioned above and R1 resistance levels, the S1 support at $ 2866 is close to the lowest level on Thursday. This will be vital support on Tuesday. If bulls want alloys to avoid other less legs, this level should be. Moreover, daily S2 support at $ 2,842 should be able to pick up any additional negative pressure.
Xau/USD: Daily chart
Common questions between the United States of China for war
In general, the trade war is an economic conflict between the two countries or more due to severe protectionism at one party. It involves the creation of commercial barriers, such as customs tariffs, which lead to anti -import barriers, and to import costs, and thus the cost of living.
The economic conflict between the United States (the United States) and China began in early 2018, when President Donald Trump laid commercial barriers on China, claiming unfair commercial practices and theft of intellectual property from the Asian giant. China has taken retaliatory measures and imposed a tariff on multiple American goods, such as cars and soybeans. Tensions escalated until the two countries signed the commercial deal for the first stage of the United States of China in January 2020. The agreement requires structural reforms and other changes on the economic and commercial system in China and demonstrated by restoring stability and confidence between the two countries. However, the Koronavus virus’s pandemic took the focus from the conflict. However, it should be noted that President Joe Biden, who took office after Trump, maintained the customs tariff in his place and added some additional fees.
Donald Trump’s return to the White House as an American president ignited 47 new waves of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60 % of the customs tariff on China once he returns to his position, which he did on January 20, 2025. With the emergence of Trump, the American trade war and China aim to resume the place where it was left, with policies for corrections that affect global economic records in nutrition in nutrition.
