The most soft gold after the comments target the Trump administration for 10 years, not the price of the Federal Reserve Policy
- Gold’s All-Aal-Aal-Ally is 2,882.35 printed on Wednesday.
- Gold saw some mitigation after US Treasury Secretary Bessin revealed that Trump wanted to drop revenues for 10 years, not cuts in interest rates.
- The Bullion victory series is at risk of picking up and facing the sale of pressure this Thursday in Asia.
The Gold’s (Xau/USD) price is heading and trading about $ 2,859 at the time of this report. This segment is mainly operated through the comments of US Treasury Secretary Scott Beesen, who said that the Trump administration’s focus on reducing treasury revenues for 10 years, not the short -term interest rate of the Federal Reserve, according to Bloomberg reports.
On the economic data interface, all attention will be in the bank’s monetary policy decision, where the interest rate is expected to reduce 25 basis points (BPS), to 4.50 % after cutting it by 50 basis points during the year 2024. Besides, the Federal Reserve (Reserve Bank Federal), Governor Christopher Waller, Chairman of the Federal Reserve in San Francisco Marie Dali and Chairman of the Federal Reserve in Dallas, Lori Logan later this Thursday, will speak before explaining the unexplained salary data on Friday.
Dafeest market driver: Leadership Forces
- US President Donald Trump’s comments on Gaza and the new nuclear agreement with Iran on the element of the tail risk in the markets, which causes investors to return some positions in gold, according to Bloomberg reports. Trump is also expected to make a plan next week to end the war in Ukraine, which will help reduce the risk bonus.
- The commodity markets are preparing to get out of the recession for two years, such as gathering in the prices of minerals and precious agriculture. The total total commodity communication index, which trades a basket of 24 energy, minerals, and agricultural futures, is already 5.9 per cent this year to its highest levels since the end of 2022 – which was a golden year for raw materials with the return of economies from Covid -19 hibernation economies The war in Ukraine has sparked chaos on supply chains, according to Bloomberg reports.
- Gold is traded in the Bank of England, a cellar, a discount on the broader market, as it fears Trump’s potential tariffs to defend alloys that lead to waiting lists for weeks to withdraw minerals.
- The Bank of England is scheduled to issue a monetary policy decision at 12:00 GMT. The expectation is to reduce the interest rate of 25 basis points from 4.75 % to 4.50 %.
Technical Analysis: The main risks are high
The markets need to change their position very quickly, which means that gold is not in the beautiful place on Thursday. “Peaceful” comments from US President Donald Trump take the markets by surprise and support a more dangerous situation, which means that safe havens are not preferred. Although gold is clear that one of these, the pressure pressure can continue on Thursday until a contradictory address or comment comes out.
The level of support S1 on Thursday is the first close support at $ 2,8343. From there, the S2 support must come at a price of $ 2,820. In the event of a correction, it should be a level of 2790 dollars (the highest level on October 31, 2024) capable of capturing any fallen knives.
On the upper side, the R1 resistance comes at $ 2,886, and it is just higher than the highest level at all times. If the assembly could pick up in terms of stopping, the level of the upward trend to overcome the daily axial levels is the R2 resistance near $ 2,905 after breaking more than 2900 dollars.
Xau/USD: Daily chart
