The price of gold is consolidated above $ 3,000; The downward potential seems limited

• Gold price bundles seem reluctant in the middle of a positive risk tone and the recent recovery of the USD.
• The bets that the Fed will soon resume its cycle of rate cuts offer support to the precious metal.
• Macroeconomic US data on Tuesday and FED statements could provide impulse to the Xau/USD pair.

The price of gold (Xau/usd) struggles to gain significant traction during the Asian session on Tuesday, although it remains above the 3,000 $ psychological brand in mixed fundamental signals. The US dollar (USD) preserves its recent recovery profits from a minimum of several months and is located about a maximum of three weeks reached Monday. Apart from this, the optimism in the market, backed by hopes of less disruptive American commercial tariffs, the peace agreement between Russia and Ukraine, and the optimism about China’s stimulus, acts as a wind against for the precious metal secure refuge.

Meanwhile, the growing acceptance that the Federal Reserve (Fed) will soon resume its cycle of feat cuts, amid concerns about an economic deceleration in the US driven by tariffs, brakes the USD bulls to make aggressive bets. This, in turn, is considered to provide some support for the price of gold without performance. Therefore, it will be prudent to expect a sustained break and acceptance below the 3,000 $ brand before confirming that the Xau/USD has reached its maximum point in the short term and position itself for an extension of the recent setback from the historical peak.

What moves the market today: the price of gold remains defensive in the midst of market optimism

• The feeling of global risk remains well supported by hope that the so -called reciprocal tariffs of US President Donald Trump, who will enter into force on April 2, will be smaller and less strict than initially feared.
• The Russian state media reported that a joint statement of the US and Russia is expected on Tuesday after one -day conversations in Saudi Arabia focused on a limited proposal for a high -fire agreement in the Black Sea.
• According to a Financial Times report, China is considering including services in a subsidy program to stimulate consumption, which further increases the confidence of investors and undermines the price of gold shelter.
• The US dollar preserves its recent profits up to a maximum of almost three weeks reached Monday in reaction to the best publication of the expected PMI composed of the US, which rose to 53.5 in March from 51.6 of the previous month.
• The Federal Reserve last week reduced its growth forecast by 2025 and increased its inflation perspective amid the uncertainty about Trump’s tariffs, although it pointed out that it is likely to make two cuts of 25 basic points rates in 2025.
• Meanwhile, the concerns about the economic growth of the United States led the operators to increase the bets that the Fed could soon resume their policy flexibility cycle, which limits more USD profits and offers support to the yellow metal without performance.
• The president of the Fed of Atlanta, Raphael Bostic, said Monday that he anticipates a slower progress in inflation in the coming months and sees that the Central Bank cuts the reference rate only a quarter of a percentage point in 2025.
• The operators now expect the US economic agenda on Tuesday, which includes the publication of the Conference Board Conference Conference Index, sales of new homes and the Richmond manufacturing index, to obtain some impulse.
• Apart from this, the Speeches of influential FOMC members could boost the demand of the USD and generate short -term opportunities around the Xau/USD couple later during the US session.
• However, the attention will continue to focus on the US PERSONAL CONSUMPTION PRICE INDEX (PCE) on Friday, which could provide new clues about the future path of fees of Fed.

Gold price bassists need to wait for a sustained break below $ 3,000 before opening new positions

From a technical perspective, the Xau/USD torque has shown some resistance near the 3,000 $ brand. This level will probably act as a key point, which if it breaks decisively could cause technical sales and drag the price of gold to the region of 2,982-2.978. The corrective fall could be further extended towards the resistance break point of 2,956-2.954, which has now become support.

On the contrary, the area of ​​3,033, or the maximum of the oscillation of the previous night, now seems to act as an immediate obstacle before the historical peak, around the area of ​​3,057-3.058 reached last week. Since the oscillators in the daily graphic remain comfortably in positive territory, some follow -up purchase will be seen as a new trigger for the bullies and will establish the scenario for an extension of an upward trend of several months.