- Discover how gold prices respond to the Fed's decision and the main market movers that can affect the price of gold. Check Gold Technical Analysis
During the Asian trading session on Thursday, gold prices rose due to the Federal Reserve warning about the economy, which led to entrepreneurs to seek safe shelters. This is despite the speculation about US-China's trade dealing with precious metal.
We see some positive movements in the markets today, in response to US president Donald Trump that he will announce a major trade deal on Thursday. However, traders attract some dip-buyers to lower gold prices. Below, we will mention the technical review for the day -day Gold prices.
The gold fell strongly on Wednesday after US-China talks confirmed that they would take place this week. However, they seem to be unlikely to reach a deal. Especially since either US or China does not show any willingness to stop putting tariffs on each other's goods.
The gold technical examination of the day -to -day time of time:
From a technical point of view, gold finds some purchase power around $ 3,260; However, this level has become a resistance but is now acting as support. And this may be a good sign to see the Gold prices Reach a second level of resistance to $ 3,445. If the price can break above this level, we will see the all-time high level at $ 3,500. (Gold price forecasts for 2025, 2027, 2030 and more)
On the flip side, the levels around $ 3,465- $ 3460 look like a strong support, so any clear break under these levels can open the door for gold prices to drop and reach the first support to $ 3,307, and under this one, we can go to $ 3,245
The main mors in the gold market:
1- President Donald Trump does not plan to lower tariffs on China's goods.
2- Geopolitical tensions in Eastern Europe between Ukraine and Russia.
3- The armed conflict with the Middle East between Israel and Yemen and the threat of revenge.
4- The Federal Reserve's decision to keep the interest rate unchanged, as expected, and said that the future economic situation is not yet clear.
See also
5- Trump creates suspense as he says he'll announce a big trade deal today.
What do you need to watch now:
1- The press conference for US President Donald Trump at 2pm in London today.
2- The US claim numbers are unemployed. It will affect both the dollar and gold later today.
In conclusion, entrepreneurs are waiting to hear what Trump said at his press conference, and the trading is also careful because of the above mentioned movers, which is why gold prices have not increased.
