He Gold of Gold Price in euros records profits for the fourth consecutive daybenefiting from the lack of agreement between the European Union and the United States to reduce the 30% tariffs that Donald Trump announced that they would apply as of August 1.
The Xau/EUR closed Thursday at € 2,878.59, winning 0.12% daily, and today it has moved between a minimum of the day in € 2,867 and a maximum of € 2,882.49. At the time of writing, the torque advances 0.13% in the day around € 2,882.22.
From a year to this part, the price of gold in euros has risen 27.67%.
The agreement between the EU and the US to avoid 30% tariffs is delayed, benefiting gold in front of the euro
The price of gold benefits from the lack of agreements between the commercial representatives of the European Union and the United States. Despite the trip that Maros Sefcovic, commissioner of Commerce, made Washington on Wednesday to negotiate with Howard Lutnick and Jamieson Greer, advances have not been known. According to EU sources, if a pact with the United States was achieved, it would surely not be announced next week, but a few days before August 1. It should be remembered that Donald Trump imposed 30% tariffs on Europe last Saturday, warning that if negotiations did not prosper, they would begin to apply at the beginning of August.
The European Union has published the data of the May current account, showing a 32.3b rise of euros Since May 19.8b, but without achieving the estimated 34.8b For the market.
Previously, Germany published its June production price index, showing a 1.3% year -on -year drop, in line with the expected. At the monthly level, production prices inflation increased by 0.1% against 0% planned.
In the Middle East, tensions continue. Today it has been known that Israeli Army has murdered 21 Palestinians in different parts of the Gaza Strip During the last hours. In addition, the convictions of Israel’s attack continue against the only Catholic Church in the region, after which three people died. The conflict maintains interest in gold as a safe refuge.
XAU/EUR Technical levels
The 14 -day relative force (RSI) index is located on the 50 line in all temporalities, pointing to an extension of the bullish movement In the next few hours.
Upwards, the initial resistance is in € 2,891, maximum of Monday. Above, the Xau/EUR can cross the region of € 2,900 in the direction of € 2,993, ceiling last June and the last two months.
Down, the first support waits on the mobile average of 100 periods in daily chart located at € 2,862. Below this level, the decrease could extend around € 2,841, where is the 100 -hour mobile average. A break in this region could lead to the Xau/EUR the area of 2,801/€ 2,800, minimum of July and psychological level, respectively.
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.
