Gold is merged with anti -China measures on the United States, which imposed definitions during the weekend
- Gold printed a fresh record at $ 2,830.70 on Monday.
- China pushes back against the United States and issues a customs tariff for American imports as counter -procedures.
- Gold faces are high levels of resistance inside the day due to volatility from the two.
The Gold’s (Xau/USD) price is traded and searches for guidance after its last move to the highest level ever, after China’s retaliation against the American tariff issued at the end of the week. Beijing imposed a 15 % tariff on less than $ 5 billion of US energy imports, such as coal and natural texture (LNG), and 10 % fees on American oil and agricultural equipment. It will also be achieved in Google due to the alleged anti -monopoly violations. The markets are unclear about what to do with these revenge definitions and the Whipsaw patterns appear at the price price on Tuesday.
On the front of economic data, the evaluation is light before moving to a non -agricultural salary report, scheduled for Friday. On Tuesday, Jolts Jobs job opportunities for December can be important later in the day, followed by two Federal Reserve speakers (Fed), Atlanta Fed Raphael Bosctic and San Francisco Fed Mary Daly.
Daily Digest Market Movers: cloudy picture
- China has reviewed the opening trade war of US President Donald Trump by targeting a handful of American companies and slapping fees on some American goods, in a step apparently to avoid escalating tensions between the largest economists in the world, Bloomberg said. China was seen as “measurable and appropriate” and “aimed at sending Trump a warning without hurting his access to important goods.” The customs duties are scheduled to start on February 10, which may leave room for negotiation.
- At 15:00 GMT, the Jolts Jolts Jolts Jolts Jolts. Expectations are that there will be a decrease to 8 million job opportunities, a decrease from 8.098 million in November.
- At 16:00 GMT, the Federal Reserve Chairman in Atlanta Rafael WWGC is running a conversation with the mayor of Atlanta André Dickens at a meeting of the National Work Squad for the Housing Crisis in Atlanta.
- At 19:00 GMT, Mary Dali, President of the Federal Reserve in San Francisco, will participate in the annual Economic Execution Committee for the Ater.
- The CME Fedwatch tool shows an 86.5 % chance to maintain the interest rate unchanged at the March 19 meeting, compared to 13.5 % to reduce the rate of price 25 basis points.
Technical analysis: my side now
This is where children will be separated from men in trading after facing China on Tuesday, President Trump’s tariff slapped during the weekend. Whipsaw movements will undertake the fluctuations that depend on the title, the basic basic procedure from here on the way. Keep loyal to the largest levels, which will work as support or resistance within the day and in the long run.
The first support comes at a round of $ 2800, followed by $ 2,790, which is the highest level in November. The lowest level of Monday should be at the anarchist opening this week at $ 2,772 as the following support. Once this level starts, the enemy can be fast to $ 2721.
Analysts and strategists have called for $ 3,000, but the region is about 2800 dollars, which looks like a good starting point for profit. Based on Monday, PIVOTS POINTS shows $ 2,839 and $ 2,864 as the next daily resistance levels. This will become important, along with logical big numbers like $ 2,850 and $ 2,880.
Xau/USD: Daily chart
Customs fees are common questions
Customs duties are useful customs duties on some imports of goods or a category of products. Customs duties are designed to help local producers and manufacturers to be more competitive in the market by providing the price feature on similar goods that can be imported. Definitions are widely used as fever tools, along with commercial barriers and import shares.
Although customs tariffs and taxes generate government revenues to finance public goods and services, they have many differences. Customs duties are pre -paid in the entry port, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and companies, while customs duties are paid by importers.
There is a school of thought between economists regarding the use of definitions. While some argue that definitions are necessary to protect local industries and address commercial imbalances, others see them as a harmful tool that can push prices up in the long term and lead to a harmful commercial war by encouraging customs tariffs.
During the period before the presidential elections in November 2024, Donald Trump explained that he intends to use the customs tariff to support the American economy and American producers. In 2024, Mexico, China and Canada accounted for 42 % of the total imports of the United States. During this period, Mexico emerged as the best source with $ 466.6 billion, according to the American Statistical Office. Thus, Trump wants to focus on these three countries when imposing definitions. It is also planned to use the revenues created by definitions to reduce personal income taxes.
