The price of gold reverses the decline drop on Monday from maximum of several weeks in the midst of a weaker dollar

• The price of gold attracts some buyers in setback in the middle of a modest USD setback from a maximum of several weeks.
• The persistent uncertainties related to trade also provide support to the precious metal of safe refuge.
• The reduced fees of FED fees cuts could limit the raw material before the CPI CRITICAL REPORT OF THE USA.

The price of gold (Xau/usd) recovers positive traction after the back of the previous day from a maximum of three weeks and relies on its constant intra -field promotion during the Asian session on Tuesday. Some repositioning movements before the US consumer inflation figures away from the US dollar (USD) of the highest level since June 24 reached Monday. This, in turn, is considered a tail wind for the raw material. Crucial data will influence market expectations on the Federal Reserve Rate (Fed) trace path, which will play a key role in boosting USD and providing significant impulse to yellow metal without performance.

Looking ahead to the risk of key data, the bets that the US Central Bank will maintain high rates in advance of inflation worsening as a result of higher imports to imports, and an still resistant US labor market, continue to support the high yields of US Treasury Bonds. This could limit any significant loss of the USD and keep the price of gold at bay. Apart from this, the hopes that trade agreements can be reached before the deadline of August 1 of US President Donald Trump for reciprocal tariffs, and that a global commercial war is avoided, could stop the operators to carry out aggressive bullish bets around the Xau/USD torque of safe shelter and limit the profits.

What moves the market today: gold price up

• The US dollar goes back slightly from a maximum of several weeks established the previous day in the midst of some repositioning movements before the last US consumer inflation figures, which will be published later this Tuesday, and provides support to the price of gold during the Asian session.
• It is anticipated that the consumer price index (CPI) mainly increases 2.7% year -on -year in June, while the basic indicator is expected to be located at 3.0% year -on -year. Even a slight disappointment would feed the speculation about an early cut of interest rates by the Federal Reserve.
• Operators currently assign a 60% probability to a rate cut for September and at least 50 basic relief points by the end of the year. Therefore, a weaker fact could weigh on the USD and provide a significant impulse to yellow metal without performance.
• Meanwhile, the market reaction to stronger readings is more likely to be limited, since the persistent uncertainties around the commercial policies of US President Donald Trump could continue to offer some support to the XAU/USD torque of safe refuge.
• In fact, Trump issued tariff notices to more than 20 countries and announced a 50% tariff on copper imports last week. However, Trump softened his position on Monday and pointed out that his administration was open to more commercial negotiations.
• This, in turn, increases the appetite of investors by higher risk assets, which is evident in a generally positive tone around the markets of shares. Therefore, shopping is needed to prepare the land for an additional XAU/USD movement movement.

The price of gold could accelerate the positive movement intradicted above the key resistance of $ 3,365

From a technical perspective, a sustained strength beyond the region of $ 3,365-3,366 could be seen as a new trigger for the bulls of the Xau/USD in the middle of positive oscillators in schedules/day graphics. This, in turn, would prepare the land for additional profits and allow the price of gold to recover the round figure of $ 3,400. A purchase monitoring has the potential to raise the raw material even more towards the next relevant obstacle near the area of $ 3,434-3,435.

On the contrary, the area of $ 3,341-3,340 could offer immediate support, and any additional drop could be seen as a purchase opportunity near the region of $ 3,326. This should help limit the fall in the price of gold near the round figure of $ 3,300. This is followed by the region of $ 3,283-3,282, or below a minimum of one week reached last Tuesday, which, if it breaks, would make the Xau/USD couple vulnerable to accelerate the corrective fall towards the minimum of July, around the area of $ 3,248-3,247.