- Summary:
- The price of gold is under pressure while the hope of china-US trade talks is close. Also, alphabet revenues have strengthened the reliance of the tech industry.
The price of gold was exchanged at the New York session on Friday, losing 2.1% of its value and going to $ 3,275 in the area of the writing type. The commodity gained under pressure from refusal to avoid risk as trading tariffs between the United States and China Thaw.
The news outlets were reported widely on Friday that China was considering exempting several US goods from 125% trade tariffs. In addition, the world's second largest economy has been reported to have explored a détente with tariffs along with the European Union. That can expand the global market and add downward pressure to the price of gold.
Earlier on Sunday, US President Donald Trump said China-US trade talks could get significant traction over the next two to three weeks. That has been set in the movement of calming the high risk of the risk of stakes that ruled the markets in recent weeks.
Meanwhile, alphabet beating revenues have injected a positive momentum in markets that could increase the coherence of equality, reducing demand for safe gold shelter. The giant tech reported revenues of $ 90.23 billion, defeating the consensus figure of agreed $ 89.17 billion for the quarter ending March 2025.
In addition, the EPS came to $ 2.81, exceeding the analyst forecast figures of $ 2.01. In addition, it announced a $ 70 billion sharing shares, proving good times for the AI industry despite recent market problems. That sentiment is likely to be involved in greater equities markets.
Gold price prediction
Gold price pivots at $ 3,297 and the control of the seller's momentum signals. It will probably find the first support of $ 3,277. An elongated descending momentum will break below that level and may be less to test $ 3,252.
Conversely, going above $ 3,297 will change the momentum upside down. If that happened, Xauusd would likely rise to meet the first barrier to $ 3,316. Breaking the upper level will prove to the downside narrative. Also, such a momentum can expand the downside to test $ 3,340.
