The price of gold adds intra -intradia reaching a minimum of two weeks amid commercial optimism and modest strength of the dollar

• The price of gold attracts strong sales for the third consecutive day in the midst of a combination of factors.
• The relaxation signals of the tensions between the US and China and a modest rebound of the USD weigh on the precious metal.
• The aggressive bets of feat cuts of the Fed should limit the USD and reduce the losses for the Xau/USD torque.

The price of gold (Xau/USD) extends its downward trend for the third consecutive day and falls to a minimum of more than two weeks, around the 3,221 $ region during the Asian session on Thursday. The relaxation signals of commercial tensions between the US and China, the two largest economies in the world, continue to undermine the demand for traditional safe shelter assets and exert the downward pressure on the precious metal. In addition, the US dollar (USD) rises to a maximum of two weeks and contributes to the commodity flows and the intra -fall.

Meanwhile, the surprising contraction in the US GDP and the signals of relaxation of inflationary pressures reaffirm market bets for a more aggressive relaxation policy by the Federal Reserve (Fed). This could keep any significant movement of the USD at bay and should support the price of gold, which does not yield. Apart from this, the uncertainty about the erratic commercial policies and the economic agenda of the US president Donald Trump should contribute to limit the losses for the Xau/USD torque before the key macroeconomic data of the USA of the USA programmed for the start of a new month.

What moves the market today: the price of gold continues to lose ground while the hopes of a commercial agreement between the US and China undermine the demand for safe refuge

• US President Donald Trump said earlier this Thursday that there is a “very good probability that we reach an agreement with China” and added that we have “potential” trade agreements with India, South Korea and Japan. Comments add up to recent optimism and further increase investor confidence.
• The US dollar rises in reaction to Trump’s comments and drags the price of gold, which is safe refuge, down the third consecutive day on Thursday. A break below the key support of 3,265 $ -3,260 $ causes technical sales and further contributes to the intradic fall towards a minimum of two weeks.
• Automatic Data Processing (ADP) on Wednesday that employment in the private sector increased by 62,000 in April. This marked a notable decrease with respect to the increase of 147,000 (reviewed since 155,000) registered in March and was also well below the market expectation of a 108,000 reading.
• Adding to this, the advanced estimates of the Office of Economic Analysis indicate that the US economy was contracted at an annualized rate of 0.3% during the first quarter of 2025, after growing at a solid pace of 2.4% in the previous quarter. The data, in turn, revive concerns about an imminent recession in the US.
• Meanwhile, the US personal consumption expenditure index (PCE) was reduced to 2.3% year -on -year in March from the previous 2.5%. In addition, the underlying PCE price index, which excludes volatile food and energy prices, increased 2.6% compared to 3% in February, indicating a relaxation of inflationary pressures.
• The discouraging macroeconomic data of the US reaffirms the bets that the Federal Reserve will resume its cycle of feat cuts in June. The operators are valuing the possibility that the US Central Bank reduces the costs of loans at 100 basic points by the end of the year. This should limit the USD and support the yellow metal that does not yield.
• In the Geopolitical Front, Kremlin spokesman Dmitry Peskov said Russia that Russia can mobilize for war on a scale comparable to that of the Soviet Union during World War II if necessary. In addition, a Russian drone attack killed two civilians and wounded five more in southern Ukraine.
• This could contribute even more to limit losses to the Xau/USD torque. The operators now wait for the key macroeconomic data of the US – the ISM manufacturing PMI later this Thursday and the non -agricultural payroll report on Friday. The data will provide clues about the Fed feature cuts and influence the commodity.

The price of gold could accelerate the corrective fall once the 50% Fibonacci level is decisively broken, around 3,229 $ -3,228 $

From a technical perspective, the night break below the level of fibonacci setback of 38.2% of the last leg on the rise from the neighborhood of the $ 2,900 or the monthly minimum, and the 3,265 $ -3,3,260 $ was seen as a key trigger for the bassists. That said, the oscillators in the daily chart, although they have been losing positive traction, have not yet confirmed the negative perspective. Therefore, it will be prudent to wait for acceptance below the level of 50% Fibonacci, around the 3,229 $ -3,228 $ region, before positioning for new losses. The price of gold could then accelerate the fall to the round figure of $ 3,200 en route to the level of 61.8% of Fibonacci, around the area of ​​3,160 $.

On the other hand, any recovery attempt could now face resistance near the aforementioned support point, around the 3,260 $ -3,265 $ region. This is followed by the level of 38.2% of Fibonacci, just before the 3,300 $ brand, which if it exceeds could trigger a short coverage rally and raise the price of gold towards the offer zone of 3,348 $ -3,350 $. A purchasing follow-up, which leads to a subsequent fortress beyond the 3,367 $ -3.368 $ region (level of 23.6% of Fibonacci), will suggest that the recent corrective setback has come to an end. The Xau/USD torque could then aim to recover the $ 3,400 mark and extend the impulse even more towards the intermediate obstacle of $ 3,425 -3,427 $ before trying to conquer the psychological brand of $ 3,500.