XAU/USD Current Price: 3,383.60 $
- The US president Donald Trump says that patience with Iran “is running out.”
- The United States data came below the expected while the markets prepare for the Fed.
- Xau/USD is negotiated within a well limited range in the middle of a renewed risk aversion.
The gold in cash established a weekly minimum of $ 3,366.25 on Tuesday, bouncing from the level still in the American session. The US dollar (USD) spent the first half of the day at a disadvantage, but remained within family levels while market participants waited macroeconomic figures in the United States (USA), being cautious in the middle of the crisis in the Middle East.
The United States published Mayorist sales, which fell 0.9% in monthly terms, worse than -0.1% registered in April and -0.7% expected. In addition, industrial production in the same period decreased 0.2% compared to the advance of an advance. Finally, the use of capacity stood at 77.4%, below 77.7% registered in April and without complying with 77.7% expected.
In addition, holders related to the commercial war continued to arrive. On the one hand, the president of the European Commission, Ursula von der Leyen, said that commercial conversations with the US are “advancing” despite being complex, while adding that the EU has a commercial surplus with the US, and that that could last.
Finally, it is worth adding the comments of the US president about the conflict in the Middle East, who fed risk aversion, helping Xau/USD to cut intra -intradia losses. Trump said the US army has total control of the Iranian airspace, adding that US’s patience is running out. “
The discouraging data of the US and the renewed concerns related to the Middle East feed the security demand.
Meanwhile, the US Federal Reserve is expected to maintain interest rates without changes when you announce your monetary policy decision on Wednesday. American officials will also present a new summary of economic projections (SEP), with new perspectives on inflation, growth and employment.
Xau/USD’s short -term technical perspective
The Xau/USD pair is negotiated in the 3,380 $ region, and the daily chart shows that the confined route has passed to an adjusted range. The torque has lost its positive impulse, but the general risk is inclined to the rise, since the technical indicators have become wells well above their middle lines. In addition, Xau/USD develops above all its mobile socks, with the simple mobile average (SMA) of 20 partially losing its upward force, but keeping well above the SMA of 100 and 200 bullish.
In the short term, and according to the 4 -hour graph, the price of gold has margin to relax even more. The pair is negotiated below its SMA of 20, which limits the advances around 3,406.90 $. Smas of 100 and 200 remain without direction below the current level, while technical indicators descend within negative levels. Even so, the risk aversion environment will probably prevent the pair from falling more.
Support levels: 3,366.10 3,352.40 3,339.75
Resistance levels: 3,406.90 3,414.60 3,437.85
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.
