Gold makes it about 3000 dollars after President Trump calls the dictatorship of Ukraine
- Gold this Thursday has already achieved the highest new level ever at about $ 2955.
- US President Donald Trump described Ukraine a dictatorship that started the war.
- There can be more high levels at all times all over gold if weaker Greenback and US revenues decrease.
Gold’s PRICE (Xau/USD) circulations near their highest level ever after one was actually printed in early European trading on Thursday. The upper batch comes after the President of the United States (the United States), Donald Trump, said that the commercial deal with China may be possible. Geopolitical concerns have grown at the same time after President Trump said that Ukraine began the war with Russia and hinted that it was time to pay the United States to all the funding provided.
Meanwhile, Federal Reserve Lecturer (Fed) for the January Policy meeting on Wednesday had no significant impact. Only a handful of members of the Federal Open Market Committee (FOMC) called for a fixed interest rate and not to rush to any discounts. Given this, the chances of lowering the interest rate in June remain.
Daily Digest Market Movers: Trips to New York
- Thousands of gold bars are physically transferred from the Bank of England to the futures market in the United States, exposing logistical bottlenecks in the global market. This step is driven by a chance of a pleasant speculation that US President Donald Trump will impose a tariff for gold, as merchants buy gold in London and sell future futures contracts in the United States, according to Bloomberg’s reports.
- Gold Fields Ltd. said. Its entire public profit increased by 77 % last year after the high price of precious metals, while the company started overcoming the operational challenges in Mines in Chile and South Africa, according to Reuters reports.
- The relationship between the United States and Ukraine reached the lowest new level on Wednesday, with the madness of social media between US President Donald Trump and Ukraine President Volodimir Zellinsky. There are increasing concerns that Trump could stop American support to Ukraine after Russia invaded its neighbor in 2022. It will leave Bloomberg.
Technical analysis: the end of the road
Even with a more softening tone on the customs tariff and a possible commercial deal between the United States and China, traders will still have enough reasons to push Xau/USD to the top. The road appears to $ 3000, which is a matter of time before gold reaches it. As with many other asset categories, as soon as the precious metal frenzy reaches the masses, it will be possible to sell it.
The first support for Thursday is $ 2,947, which is the resistance of the R1 PIVOT POINT, which coincides with the rise of Wednesday. Moreover, the daily axle point comes at $ 2,933. Under this level, Low Low converges on Wednesday and support S1 at $ 2919, which must be strong enough to support and pressure of the brief sale.
On the upper side, the target level for Thursday is the R2 resistance at $ 2961. With a light economic calendar, the level is likely to be tested later in the day. From there, the handle comes 3000 dollars, although it may still be very high so that it cannot be tested this week.
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.
(This story was corrected on February 20 at 10:00: 19GMT to say that traders who buy instant gold in London and sell futures contracts in the United States, according to Bloomberg reports, not “Bloomberg’s support”.)
