Gold fell nearly 1% after hitting a near four-week high, pressured by a firmer dollar as investors grew cautious ahead of a potential call between U.S. President Donald Trump and Chinese leader Xi Jinping.
The Gold-Dollar pair dropped 0.9% in the last session after rising as much as 1.0% during the session. The MACD is giving a positive signal.
Support: 3272.9 | Resistance: 3439
The U.S. dollar fell across the board, giving up the previous week’s gains, as markets weighed the outlook for President Donald Trump’s tariff policy and its potential to hurt growth and stoke inflation.
The Oil-Dollar pair rose 1.4% following a 1.6% intra-session dip. The Stochastic indicator is giving a positive signal.
Support: 59.722 | Resistance: 65.332
Gold rose to its highest in over three weeks, as a weakening dollar and a combination of geopolitical risks and economic uncertainty fuelled investor demand for safe-haven assets. U.S. gold futures settled 2.5% higher.
The S&P 500 index closed higher as investors were still optimistic over trade talks between the United States and its trading partners despite President Donald Trump’s latest salvo to double tariffs on imported steel and aluminum.
A U.S. appeals court reinstated President Donald Trump’s sweeping tariffs, leaving Wall Street with no clear direction a day after most of the tariffs were blocked by a trade court, a move that had given markets a brief boost.
US crypto mining stocks tumbled after minutes published by the Federal Reserve signaled its growing uncertainty about the country’s economic outlook. The crypto market remained unscathed, despite the stock drops among crypto miners.
