The price of gold is consolidated in a range; The bulls have control while above 3,300 $

• Gold price bundles seem reluctant since a positive risk tone undermines the demand for shelter assets.
• The EE.U. -A encouraging macroeconomic data on Thursday supports USD, contributing to limit the precious metal.
• Uncertainties related to commerce and expectations for fed feature cuts should help limit losses to the Xau/USD torque.

The price of gold (Xau/USD) struggles to capitalize on the upward movement of the previous day and oscillates in a narrow negotiation range during Friday’s Asian session in mixed fundamental signals. The relaxation signals of the tensions between the US and China, the two largest economies in the world, continue to support a positive tone in the variable rental markets. Apart from this, a modest rebound of the US dollar (USD) turns out to be another factor that contributes to maintaining a stop over the precious metal.

Meanwhile, Federal Reserve officials (FED) showed a disposition for possible interest rate cuts, which could limit the USD’s bullish potential and act as a tail wind for the price of gold without performance. In addition, concerns about the possible economic repercussions of the commercial tariffs of US President Donald Trump and the persistent geopolitical uncertainties suggest that the path of lower resistance for the refuge merchandise is still upward, justifying some caution for aggressive bass operators.

What moves the market today: gold price operators are refrained from opening aggressive directional positions in mixed signals

• Investors are still optimistic about the possible unwinding of the commercial war between the US and China, which acts as a wind against for the price of gold refuge during Friday’s Asian session. In fact, US President Donald Trump said Thursday that commercial conversations between the US and China are underway.
• This occurs after the spokesman of the Ministry of Foreign Affairs of China, Guo Jiakun, told journalists that China and the US have not carried out consultations or negotiations on tariffs, and described the reports of such information as false news. This underlines uncertainty about the current trade war.
• The US dollar receives some support from the mostly encouraging macroeconomic data published on Thursday. In fact, the US Department of Labor reported that initial applications for unemployment subsidy increased modestly to 222,000 for the week that ended on April 19 and pointed to the continuous resilience of the labor market.
• The US Census Office reported that the requests for lasting goods increased 9.2% in March, exceeding 2% forecast and marking a third consecutive increase. The transport team also increased for the third month, rising 27%.
• Meanwhile, a duo of Federal Reserve officials discussed the willingness for possible interest rate cuts soon. In fact, the president of the Fed of Cleveland, Beth Hammack, declared that a cut of rates as soon as in June could be possible if clear and convincing data is obtained on the economic direction.
• Separately, the governor of the Fed, Christopher Waller, said in an interview with Bloomberg that he would support feat cuts if tariffs begin to affect the labor market. In addition, operators are still valuing the possibility that the FED reduces indebtedness costs at least three times by the end of this year.
• In the Geopolitical Front, a Russian missile attack in the capital of Ukraine, Kyiv, killed at least twelve people and wounded dozens. This was one of the most fatal attacks since Russia launched its large -scale invasion more than three years ago and the geopolitical risk premium keeps at stake.
• Operators now expect the publication of the Michigan consumer’s feeling index. Apart from this, trade related developments could influence the USD, which, together with the feeling of broader risk, could generate short -term trading opportunities around the Xau/USD.

The price of gold could attract some buyers in the fall and find a decent support near the 3,300 $ brand; The bullish bias is maintained

From a technical perspective, a good rebound from the weekly minimum touched on Wednesday stops near the fibonacci recoil level of 23.6% of the last leg on the rise from the neighborhood of the $ 2,900 or the monthly minimum. The aforementioned barrier is located near the region of 3,368-3.370 $, which should now act as a key point. Since the oscillators in the daily chart remain comfortably in positive territory, a sustained fortress beyond allow the price of gold to recover the 3,400 $ mark. The subsequent rise movement will probably extend even more towards the intermediate obstacle of 3,425-3,427 $, above which the bullies could make a new attempt to conquer the psychological brand of $ 3,500.

On the contrary, the weakness below the area of ​​3,330 $ could still be seen as a purchase opportunity and remain limited near the 300 $ brand, approaching the Fibonacci setback level of 38.2%. This is followed by the weekly minimum, around the 3,260 $ area, which if it breaks should pave the path for the resumption of this week’s fall from the 3500 $ brand, or the historical maximum. The price of gold could then accelerate the fall to the 50%recoil level, around the 3,225 $ region, en route to the $ 3,200 mark. Some follow -up sales will suggest that the precious metal has reached its maximum point and will change the short -term bias in favor of the bearish operators.