- The price of gold falls with the Russia-Ukraine conversations in Türkiye that, after all, are still standing.
- Meanwhile, questions about the stability and reliability of the US dollar arise.
- After a volatile week, gold faces winds against to keep $ 3,200 on Friday.
The price of gold (Xau/USD) quotes down, negotiating at $ 3,178 at the time of writing this article on Friday, while multiple questions and concerns arise in the markets and among the operators. First, the conversations between Ukraine and Russia seemed to be dead and buried even before Ukrainian President Volodymyr Zelenskyy shake the hand of the Turkish President Recep Tayyip Erdoğan on the track of the Ankara airport. Russian President Vladimir Putin did not attend and only sent some low -level diplomats, who were seen rather as a mockery and harassment of Russia towards Ukraine.
This led several world leaders to attack Russia, threatening with more severe sanctions to force President Putin to the negotiating table. The markets prepare for comments from the president of the United States (USA), Donald Trump, who seems not to be pleased with the situation, according to Reuters. Meanwhile, the news was announced, which triggered another fall in the price of gold, that both the Russian and Ukrainian delegation will continue with the conversations in Istanbul.
Meanwhile, the US dollar (USD) is being challenged by markets, which would be a wind in favor for the Xau/USD. The volatility in “US risk assets and the dollar will lead more international investors to consider its exposure to the dollar more and diversify their asset assignments, he said,” he said, “he said this week Mark Haefele, Investment Director of the Swiss Bank Heritage Management Unit. “Gold is still an important diversifier,” Bloomberg reports.
What moves the market today: fading
- Progress in commercial negotiations between the US and China has also decreased appetite for the demand for refuge, adding winds against bassists for gold, since the stagnation between the two largest economies in the world led to a strong rebound in risk assets this week, Reuters reports.
- Investors need to diversify and cover themselves “to increase certainty about the value of their assets, especially when they have liabilities in dollars that expire,” said Mark Haefele, investment director of the Swiss Bank Heritage Management Unit. “It is not necessary that there is a seismic change in American exceptionalism so that these trends manifest,” says Bloomberg.
- Consolidations in the precious metal sector face some winds against. An important Chinese gold producer is looking for acquisition opportunities worldwide, although the recent price volatility driven by global commercial turbulence means that it does not rush to ensure agreements, says Bloomberg.
Technical analysis of the price of gold: downward rupture, inevitable weekly loss
The winds against and the winds in favor, too many to summarize for gold, are currently pushing the precious metal in all directions. It is no longer an easy image, at least for now, and gold is not unidirectional as it was at the beginning of the year. Ultimately, the “last wind that is maintained” will decide in which direction gold will be directed. Although for now, investors should continue to observe the area of $ 3,160 to assess whether gold recovery remains viable and intact.
On the positive side, the crucial technical level at 3,245 (maximum of April 1) is acting as resistance and could be difficult to recover. Once exceeded, R1 resistance at $ 3,280 and R2 resistance at $ 3,320 are the following levels to be observed, although an important catalyst would be needed to get there.
On the other hand, the daily pivot point is $ 3,199, in line with the round figure of $ 3,200. In the event that this level is not maintained on Friday, a downward movement is expected to test the support area around $ 3,160, with the maximum of April 3 at $ 3,167 and the intra -dialy support S1 at $ 3.160, before the simple mobile average (SMA) of 55 days at $ 3,138.
Xau/USD: Daily graphic
FAQS tariffs
Although tariffs and taxes generate government income to finance public goods and services, they have several distinctions. Tariffs are paid in advance in the entrance port, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and companies, while tariffs are paid by importers.
There are two schools of thought among economists regarding the use of tariffs. While some argue that tariffs are necessary to protect national industries and address commercial imbalances, others see them as a harmful tool that could potentially increase long -term prices and bring to a harmful commercial war by promoting reciprocal tariffs.
During the election campaign for the presidential elections of November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy. In 2024, Mexico, China and Canada represented 42% of the total US imports in this period, Mexico stood out as the main exporter with 466.6 billion dollars, according to the US Census Office, therefore, Trump wants to focus on these three nations by imposing tariffs. It also plans to use the income generated through tariffs to reduce personal income taxes.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
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