Current price ofXau/USD: 3,415.71 $
- The hopes that the US reaches commercial agreements with other nations partially lifted the mood of the market.
- Market actors expect the monetary policy decision of the Federal Reserve scheduled for Wednesday.
- The Xau/USD is technically bullish and is prepared to visit the 3,500 $ brand again.
The cash in cash is listed above the 3,400 $ brand on Tuesday, helped by the general weakness of the US dollar (USD) and a mood of the negative market. The risk increased during European negotiation hours amid political noises in Germany. Friedrich Merz, the conservative leader who won the elections more than two months ago, could not ensure a majority in Parliament to become chancellor in the first voting round, finally achieving success in a second attempt.
Wall Street began the day with a soft tone, but managed to cut part of his intradic losses in mid -afternoon in the US, after the comments of the US president, Donald Trump, about progress in commercial agreements. At a joint press conference with Canadian Prime Minister Mark Carney, Trump said he wants to be a friend of Canada and anticipates a great announcement in the next few days, after a “very friendly conversation.”
Trump also referred to possible trade agreements with other nations and the next conversations with China. However, his words lacked substance, and US indices continue to quote red at the time of writing.
Adding to the discouraging feeling, the market actors are waiting for the announcement of the Federal Reserve (FED) monetary policy on Wednesday. It is widely anticipated that the Fed maintains the reference interest rate without changes in the midst of uncertainty on the impact of Trump’s tariffs on the economy. Policies are also concerned that tariffs can exert upward pressure on inflation and, therefore, refuse to cut interest rates, something that “recently frustrated” President Trump, and that ended up questioning the independence of the Fed.
-Short -term technical perspective of Xau/USD
The Daily Graphic of the XAU/USD shows that it is in strong ascent for the second consecutive day, and on the way to try the historical maximum of 3,500.14 $. The torque develops well above a simple mobile average (SMA) currently 20 -day bullish at 3,275.80 $, while the 100 and 200 days smokes earn upwards well below the shortest. At the same time, the technical indicators are directed firmly after bouncing from around their middle lines, anticipating higher maximums ahead.
In the short term, and according to the 4 -hour graph, gold is on its way to extending its progress. The pair quotes well above all its mobile socks, with the 20 -day SMA winning upward traction and point of crossing over the 100 -day SMA. Even more, the Xau/USD torque presses maximums intradic in the 3,410 $ region, while the technical indicators maintain their bullish slopes within overcompra levels.
Support levels: 3.392,25$ 3.277,60$ 3.263,10$
Resistance levels: 3.430,20$ 3.444,25$ 3.468,30$
