- The price of gold clicks on the streaks that are lost this week and requires $ 3,260 after the consolidation of three consecutive losses.
- Gold relaxation takes place after the headlines that China is considering trade negotiations with the US.
- It is possible that China's entry with the US in trade negotiations may have erupted proportions.
Gold (XAU/USD) trades about $ 3,260 on Friday. The three -day loss of the loss that preceded this Friday was the amount of the entire title package, all of which had one in common theme: the relief of tariffs. In addition to executive orders United States (US) President Donald Trump had signed this week to alleviate the car sector, the main driver of the Golden Rally news The fact that China is considering a conversation with Trump's administration on possible trade transactions, Bloomberg reports on Friday.
Although the initial market reaction of their potential tariffs is gold, a fairly high tail risk must be highlighted. The best example is the current continuing trade negotiations between Japan and the US, where Japan is the largest foreign debt owner in the United States by $ 1,25.9 billion. Japanese Finance Minister Katsunobu Kato said this Friday that Japan's stakes are a means of negotiation with the Trump administration, explicitly raising its amplification for the first time as a huge creditor in the United States, Reuters said.
Daily Digest Market Movers: on the NFP deck
- The Chinese Ministry of Commerce said in a statement that he had stated that senior US officials repeatedly expressed their readiness to talk to Beijing, and called on Washington officials to show off China's sincerity. “The US has recently sent to China through relevant parties, hoping to start chat with China,” the ministry added. “China is appreciating it now,” Bloomberg mediates.
- Kevin Hassett, Director of the National Economic Council, said that the Trump administration will progress in tariff talks and are waiting for the news by the end of Friday, Reuters reports.
- Looking at US debt owners, when Japan is first of $ 1.125.9 billion in stake, China's second is $ 784.3 billion, while the US total debt is about $ 26,025.4 billion.
- The CME Fedwatch tool shows the possibility of reducing the federal reserve interest rate at a 6.4% chance of 93.6% probability that there are no changes. The June meeting has a 57.8% probability of cutting. If a non -agricultural payroll is later released this Friday, June can be seen and even perceptions can be seen, where significant reverse of the estimates would mean the federal reserve (FED) any rate to any extent to any rate. Farm's non -farm payrolls are expected to be exempt at 12.30 GMT, with a consensus of 130,000 compared to the previous 228,000.
- Another chapter Gold Road Resources Ltd. The story of the shares was suspended from Sydney's trading, which the miner referred to “media speculation about the possible control of the verification transaction”. The suspension will be canceled when the market will be opened on May 6, unless the company issues this notice before, a miner in Perth said in a shift decision on Friday, Bloomberg reports.
Gold Price Technical Analysis: Too positive
Although the gold rally may be a stagnant and the return to the top of the evergest to $ 3,500 is not going to take place as soon as possible, the tail risk of the shock event is still available.
This is accompanied by possible trade negotiations between China and the US, opening the risk of complete escalation if the talks do not go as they should. The pressure is not only for China, where tariffs reduce economic growth, but also President Donald Trump, and he has nothing to show after the 100-day unrest.
The gold price is currently very difficult in the technical area, firstly, the daily turning stage with a technical turning level from April 11th at the highest highest level of $ 3,2,45. Very close is the first R1 obstacle at a price of $ 3,54. For a definite breakthrough, there is $ 3,332, as the R2 obstacle is upside down, which needs attention and confirms that the three -day loss bar is made.
The downside is the S1 support with a pillow of $ 3,197 and falls with the lowest Thursday. Next, the game is a technical turn floor near $ 3,167 (April 3), which promotes S2 for $ 3,55.
XAU/USD: daily chart
Tariffs
Tariffs are customs duties imposed on the import or category of products of certain goods. Tariffs are designed to help local manufacturers and manufacturers be more competitive in the market, providing a valuable advantage over similar goods that can be imported. Tariffs are widely used as protectionism tools with trade barriers and import quotas.
Although both tariffs and taxes earn both government revenues for public benefits and services, they have many differences. The tariffs are paid at the entry port, but the taxes are paid during the purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers.
There are two thought schools among economists on the use of tariffs. Although some claim that tariffs are needed to protect domestic industries and solve trade imbalances, others consider them as a harmful tool that can raise prices and lead to damaging trade war in the long run, encouraging tariffs.
Before the presidential election in November 2024, Donald Trump made it clear that he intended to use tariffs to support US economy and American manufacturers. In 2024, Mexico, China and Canada accounted for 42% of the US import. During this period, according to the Mexican US Census Bureau, the $ 466.6.6.6.6 -billion exporter. Therefore, Trump wants to focus on these three countries when setting tariffs. He also intends to use the income earned through tariffs to reduce personal income taxes.
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