- The price of gold resumes a positive traction on Monday while geopolitical risks relaunch the demand for safe security.
- The USD remains depressed below a summit of several weeks and still benefits from the precious metal.
- The objective of the market is now going to the crucial meeting of the two -day FOMC policy from Tuesday.
The price of gold (XAU / USD) sticks to its modest intraday gains above the level of $ 3,250 through the Asian session on Monday, although it does not have solid follow-up or optimistic conviction. In the context of the prolonged Russian-Ukraine War, an escalation of the Middle East conflict maintains the geopolitical risk at stake. In addition, uncertainty on the price levels of American president Donald Trump weighs on the feeling of investors and benefits the traditional precious metal safely.
Meanwhile, increased economic uncertainty on the back of Trump's prices cannot help the US dollar (USD) to capitalize on the rebound inspired by the monthly American job report. Apart from that, bets for an imminent start of the Federal Reserve Cup Cup (Fed) provide additional support to the price of gold not rendered. Merchants, however, seem reluctant to place aggressive bets and choose to go through a two -day FOMC political meeting from Tuesday.
Daily Digest Market Movers: The price of gold is supported in recovery
- In an interview broadcast on Sunday, Russian President Vladimir Putin said Russia had the means and the strength to put the Ukrainian conflict to a logical conclusion. This had to the ceasefire three days of Putin before May 8. Russia, however, had rejected the proposals of Ukraine and the United States for an unconditional 30-day ceasefire.
- Israeli Prime Minister Benjamin Netanyahu has promised to respond to the Tallistic Missile attack on the Houthi rebels in Yemen who hit Ben Gurion International Airport on Sunday and added that Iran would also be confronted with the consequences of the strike. Responding to this, the Iranian Defense Minister Aziz Nasirzadeh said that Tehran would affect himself if the United States or Israel attacked.
- US President Donald Trump announced a 100% price on all films produced in foreign countries on Sunday. Its unpredictable commercial position disrupts investors, leading to safe flows that help gold to extend its bottom of last week near the round figure of $ 3,200.
- Traders have written bets according to which the Federal Reserve will reduce rates in June as a result of the best than expected publication of data on American jobs on Friday, which showed that the economy added 177,000 jobs in April against 130K expected. Additional details have revealed that the unemployment rate was standard at 4.2%, pointing to a still resilient American labor market.
- The US dollar, however, is struggling to attract significant buyers and remains depressed below a top of several weeks hit last Thursday in the middle of increased economic uncertainty on the back of Trump's prices. This provides additional support for the XAU / USD pair before the FOMC policy meeting, which was long -awaited from Tuesday.
- In addition, the speeches of influential Fed officials later this week will be examined for information on the future trajectory of monetary policy and stimulate USD demand. In the meantime, the United States US SERVICE PMI on Monday, which, as well as trade-related developments and large geopolitical titles, could produce an impetus at the XAU / USD pair on Monday.
Gold Price Bulls must wait a step beyond $ 3,260 to 3,265 before positioning for any additional appreciation movement
From a technical point of view, the precious metal last week showed a certain resilience lower than the level of Fibonacci trace at 50% of the higher movement of the neighborhood of the middle of $ 2,900. The subsequent rebound in the $ 3,200 district guarantees a certain caution before positioning for an extension of the recent decline compared to the $ 3,500 mark, or the peak of all time affected in April. Any additional distance, however, is more likely to confront rigid resistance near the breakdown of 3,260 to 3,265 of horizontal support, now transformed. A force supported beyond the latter could however bring the price of gold to the supply area from $ 3,348 to $ 3,350 on the road to $ 3,367 to $ 3,368 of intermediate obstacle and the figure of $ 3,400.
On the other hand, weakness below the region of $ 3,225 (50% FIBO level) could continue to find some support before the $ 3,200 mark. A convincing break below the said handle would make the price of gold vulnerable to accelerate the fall to the confluence of 3,170 to $ 3,165, including the FIBO of 61.8%. Simple level and average mobile average of 200 periods (SMA) over 4 hours chart. Some follow -up sales will be considered a new trigger for lower traders and will open the way for a new short -term decision.
US dollar price today
The table below shows the percentage of variation in the US dollar (USD) compared to the main currencies listed today. The US dollar was the strongest against the Canadian dollar.
| USD | Eur | GBP | Jpy | Goujat | Aud | Nzd | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.07% | -0.31% | -0.43% | -0.06% | -0.47% | -0.71% | -0.28% | |
| Eur | 0.07% | 0.03% | -0.10% | 0.28% | -0.13% | -0.37% | 0.06% | |
| GBP | 0.31% | -0.03% | -0.36% | 0.25% | -0.16% | -0.40% | 0.03% | |
| Jpy | 0.43% | 0.10% | 0.36% | 0.39% | -0.03% | -0.18% | 0.27% | |
| Goujat | 0.06% | -0.28% | -0.25% | -0.39% | -0.70% | -0.65% | -0.22% | |
| Aud | 0.47% | 0.13% | 0.16% | 0.03% | 0.70% | -0.24% | 0.19% | |
| Nzd | 0.71% | 0.37% | 0.40% | 0.18% | 0.65% | 0.24% | 0.42% | |
| CHF | 0.28% | -0.06% | -0.03% | -0.27% | 0.22% | -0.19% | -0.42% |
The thermal map shows the percentage of variations in the main currencies against each other. The basic currency is chosen in the left column, while the quotes motto is chosen in the upper row. For example, if you choose the US dollar in the left column and move along the horizontal line to the Japanese yen, the percentage of variation displayed in the box will represent USD (base) / JPY (quote).
