After touching the 3500 level earlier this week and setting a new all‑time high, spot gold underwent profit‑taking as optimism grew over a potential U.S.–China trade deal. A more conciliatory tone from President Trump toward Federal Reserve Chair Jerome Powell also helped calm markets. While Trump’s comments about easing tariffs on China boosted risk appetite, Treasury Secretary Bissennte’s remark that negotiations could drag on tempered excessive optimism.
Geopolitical developments are being watched closely, and gold is trading about 0.5 % higher this morning.
Technically, as long as the price does not break the 3365 resistance, short‑term downward pressure remains. A clear move above 3365 would open the way toward 3410. On the downside, the price may target support at 3310, followed by 3270.
Geopolitical developments are being watched closely, and gold is trading about 0.5 % higher this morning.
Technically, as long as the price does not break the 3365 resistance, short‑term downward pressure remains. A clear move above 3365 would open the way toward 3410. On the downside, the price may target support at 3310, followed by 3270.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.