- The price of gold attracts buyers for the third consecutive day in the midst of global flight to security.
- The increase in geopolitical risks and commercial uncertainties boost traditional assets of safe refuge.
- Fed feature cuts bets also benefit the Xau/USD torque, although USD rebound limits profits.
The price of gold (Xau/USD) goes back slightly from the highest level since April 22 reached earlier this Friday, although it is maintained above the 3,400 $ brand when entering the European session. In the context of uncertainties related to trade, a greater escalation of geopolitical tensions in the Middle East moderates the appetite of investors by higher risk assets. This is evident in a sea of ​​red in global variable income markets and acts as a favorable wind for the secure refuge ingot.
Apart from this, the growing acceptance that the Federal Reserve (Fed) would reduce the indebtedness costs even more in 2025, in the midst of inflation cooling signals, contributes to the purchase tone that surrounds the price of gold without performance for the third consecutive day. However, a good rebound of the US dollar (USD) from the lowest level since March 2022 brakes operators to carry out new bullish bets around the merchandise and maintains a limit in any additional movement of appreciation.
Daily summary of market movements: The price of gold remains supported by the fears of a broader war in the Middle East
- Israel launched preventive air attacks against Iran on Friday, pointing to its nuclear plant and military sites. This marks a dramatic escalation of the regional long -standing regional conflict in the Middle East and raises the price of safe refuge gold at its highest level from April 22 during the Asian session.
- Israel’s Prime Minister Benjamin Netanyahu said the operation was aimed at Iran’s nuclear program and will continue for as many days as necessary to eliminate this threat. Israel declared an emergency state, saying that a retaliation action by Iran was possible after the operation.
- Meanwhile, a spokesman for the Armed Forces of Iran said that Israel carried out attacks with the support of the USA. However, the main American diplomat, Marco Rubio, said that America was not involved in the attacks and that Israel had informed them that this action was necessary for their self -defense.
- Iran’s supreme leader, Ayatollah Ali Khamenei, said that with this attack, Israel has prepared a bitter destiny for himself and promised severe punishment for what he called a crime. This increases the risk of a more devastating war at the regional level, weighing on the feeling of investors.
- On the commercial front, US President Donald Trump expanded 50% tariffs on steel to a range of appliances. The US Secretary of Commerce, Howard Lutnick, said that tariff levels on Chinese imports are maintained in 55% and will not change from this moment.
- The US Labor Statistics Office reported that the producer price index remained moderate in May and rose 0.1% compared to a 0.2% reviewed drop in April. This adds to a slight increase in US consumer prices, supporting the case for greater relief by the Federal Reserve.
- The operators now expect the preliminary publication of the US Michigan consumer index and inflation expectations for short -term impulse. However, the approach will remain focused on developments around Trump’s commercial policies and conflicts in the Middle East.
The price of gold remains in way of buying in setbacks in the middle of a bullish technical environment
From a technical perspective, the recent upward movement observed during the last month has been along an ascending channel. This points to a well -established short -term bullish trend, which, together with the fact that the oscillators in the daily graphic remain in the upward territory, validates the positive positive perspective for the price of gold. Therefore, a subsequent movement towards challenging the historical peak, around the psychological brand of the $ 3,500 reached in April, seems like a different possibility. This level coincides with the upper limit of the ascending channel, which if it is exceeded decisively will be seen as a new trigger for upward operators.
On the contrary, any corrective setback could now be seen as a purchase opportunity and find a good support near the $ 3,400 brand. However, some continuation sales below the 385 $ region should pave the road for additional losses towards the intermediate support of the $ 3,355 en route to the 330-3.329 $ region, which represents the lower end of the ascending channel. A convincing rupture below the latter would deny the constructive configuration and change the short -term bias in favor of the bassists.
American dollar today
The lower table shows the percentage of US dollar change (USD) compared to the main coins today. US dollar was the strongest currency against the New Zealand dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.46% | 0.51% | 0.06% | 0.28% | 0.90% | 0.97% | 0.05% | |
| EUR | -0.46% | 0.10% | -0.33% | -0.11% | 0.53% | 0.48% | -0.41% | |
| GBP | -0.51% | -0.10% | -0.49% | -0.29% | 0.34% | 0.35% | -0.49% | |
| JPY | -0.06% | 0.33% | 0.49% | 0.24% | 0.84% | 0.89% | -0.01% | |
| CAD | -0.28% | 0.11% | 0.29% | -0.24% | 0.60% | 0.69% | -0.21% | |
| Aud | -0.90% | -0.53% | -0.34% | -0.84% | -0.60% | 0.04% | -0.83% | |
| NZD | -0.97% | -0.48% | -0.35% | -0.89% | -0.69% | -0.04% | -0.87% | |
| CHF | -0.05% | 0.41% | 0.49% | 0.01% | 0.21% | 0.83% | 0.87% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the US dollar of the left column and move along the horizontal line to the Japanese yen, the percentage change shown in the box will represent the USD (base)/JPY (quotation).
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.
