Gold bounces from the lowest level in China after China denies negotiations on definitions; It keeps red over 3300 dollars

• The price of gold attracts new sellers on Friday because the positive risk tone undermines safe armed assets.
• The appearance of some US dollar is putting down the precious metal.
• Challenge political geography, trade -related doubts, and the reduced Bets Bets, for Xau/USD husband.

The price of gold (Xau/USD) regains a little from the daily depression and climbs again over the brand of $ 3300 in the last hour, although it maintains a negative bias during the first half of the European session on Friday. The Chinese Ministry of Foreign Affairs denied any ongoing negotiations with the United States on the definitions, while maintaining a cover on optimism in the markets and providing some support to precious armed minerals. Regardless of this, the prolonged war of Russia or Ukraine preserves the geopolitical risk of playing and helps reduce the negative aspect of alloys.

Moreover, the possibilities of a more aggressive policy by the Federal Reserve (FERED) calls for some caution before putting aggressive extreme stakes about the price of unpopular gold. However, investors still hope for the potential escalation of trade tensions between the largest economists in the world, which still support a generally positive tone around stock markets. This, in addition to the power of the humble US dollar (USD), prevents merchants from putting new buds around Xau/USD.

Daily Digest Market Movers: The price of gold can derive support from uncertainty in the American -Chinese trade deal and geopolitical risks

• Investors are still hoping for the potential escalation of the trade war between the United States of China, which acts as a rack of the armed gold price on Friday. Indeed, US President Donald Trump said on Thursday that the trade talks between the United States and China are ongoing.
• Moreover, China is said to consider suspending its tariff by 125 % on some US imports. However, the Chinese Foreign Minister claimed that no commercial negotiations were held, confirming uncertainty and behavior as the back wind of precious metals.
• The US dollar derives some support from the optimistic American macro data issued on Thursday. In fact, the US Department of Labor stated that the initial unemployment claims increased modestly to 222,000 for the week ending April 19 and indicated that the labor market continued.
• The American Statistical Office reported that the orders of the durable goods increased by 9.2 % in March, overcoming 2 % expectations and putting a third increase in a row. Transport equipment also increased for the third month, and an increase of 27 %.
• Meanwhile, the duo of federal reserve officials discussed the willingness of potential interest rate discounts soon. In fact, the leader of the Cleveland team, Peth Hamak, stated that the reduction of prices as soon as June is possible if clear and convincing data on the economic trend is obtained.
• Federal Reserve Governor Christopher Waller said in an interview with Bloomberg that he would support price cuts if the tariffs begin in the weight of the labor market. Moreover, traders still hear on the possibility of the Federal Reserve reduces borrowing costs at least three times by the end of this year.
• On the geopolitical front, a Russian missile attack was killed on the capital of Ukraine, Kiev, at least twelve people, and dozens were wounded. This was one of the bloodiest strikes since Russia has launched its invasion on a large scale for more than three years and remains the geopolitical risk of playing.
• Traders are now looking to issue consumer feelings in Michigan the revised United States. Aside from this, developments related to trade may affect the US dollar, which, along with the broader risk morale, may produce short -term trading opportunities around Xau/USD pair.

Gold price shows elasticity less than 38.2 % of Fibo. level; The weekly swing is low around a $ 3,260 area with a bull key

From a technical perspective, a good recovery was linked to the minimum level of the week on Wednesday in stalls on Wednesday near the level of re -Fibonache at 23.6 % of the last leg of the adjacent area of ​​$ 2900 or low monthly swing. The aforementioned barrier is linked near the 3,368-3,370 dollar area, which must now work as a main pivotal point. Given that the vibrations are daily table Concentrated comfortably in a positive area, sustainable power should allow the dimension of the gold price to restore the brand of $ 3400. The subsequent move is likely to extend to an intermediate obstacle of up to 3,425-3,427 dollars, and thus the bulls can make a new attempt to conquer the psychological brand of $ 3500.

On the other hand, the weakness without a sign of $ 33300, close to Fibo by 38.2 %. The level, may have already put the way for a slide towards low weekly swing, about $ 3,260. The convincing rest at the bottom of the last should pave the way for the rejection of the rejection of this week from the $ 3500 sign, or the peak at all. The price of gold can then speed up the decrease towards the re -partition level by 50 %, about 3225 dollars, on its way to a sign of $ 3,200. Some selling will indicate that the precious metal has been issued and diverted prejudice in the short term for the declining traders.