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Today, gold is rising, trading near the all-time high reached the previous day, amid growing uncertainty surrounding the US-China trade wars.
Gold is gaining ground today, remaining close to its record high reached earlier, as mounting uncertainty related to trade conflicts between the United States and China drives investors toward safe-haven assets. In times of economic instability, gold is traditionally seen as a safe store of value, which helps support its price.
Amid the current environment, expectations of a Federal Reserve rate cut in 2025 are also contributing to gold's strength. Lower interest rates reduce the opportunity cost of holding gold, making it more attractive to investors. However, some optimism caused by the temporary postponement of tariffs could limit further upside in gold prices, as this reduces pressure on the US dollar and dampens safe-haven demand.
From a technical standpoint, the $3200 level is a critical threshold. A stable hold below this level suggests the bullish trend remains intact. However, with the Relative Strength Index (RSI) nearing overbought territory, a short-term consolidation or correction may be required before further gains. Continued upward movement is likely to encounter strong resistance at the all-time high near the $3245 level.
Should gold prices fall below $3200, it could open up buying opportunities, with the $3169 level providing a reliable support zone. A break below this support would expose the price to further declines toward intermediate support at $3138, and possibly down to $3115 and $3100.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
The U.S. president is fully implementing his aggressive policy toward everyone and everything — both in foreign and domestic affairs. While his actions toward trade partners are more or less
There are relatively few macroeconomic reports scheduled for Friday, but all of them are quite important. In Germany, the IFO Business Climate Index will be released — the least significant
The EUR/USD currency pair continued to move upward on Thursday. There were several macroeconomic events scheduled for the day, and they did provoke a small market reaction
The results of the ECB July meeting provided slight support for the euro. However, contradictory macroeconomic reports and anticipation of the outcome of the US-EU negotiations played a restraining role
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