The opinions in this article are personal to the writer. They do not reflect those of Exness or FX Empire.<\/em><\/p>\n<\/div>\n[ad_2]<\/p>\n","protected":false},"excerpt":{"rendered":"
[ad_1] Gold prices are recovering in the Asian trading session after earlier losses supported mainly by a weaker U.S. dollar and political uncertainty following new U.S. import tariffs as US Commerce Secretary Howard Lutnick hinted at possible relief on recent tariffs for Mexico and Canada, which could pressure gold\u2019s safe-haven status. The dollar index dropped to a three-month low, making gold more appealing to other currency holders, and China has unlocked more fiscal stimulus to support consumption amidst an escalating trade war with the US. Markets are awaiting the employment report and US nonfarm payrolls data for cues on the US interest rate trajectory, but geopolitical events and tariffs are currently overshadowing economic data. From the technical analysis standpoint the price has found sufficient support on the lower band of the Bollinger bands around $2,850 and has since rebounded to the upside. The Stochastic oscillator does not indicate any overbought or oversold levels, hinting that the short-term directional movement of the price could go either way, but due to the lack of a bearish catalyst, the most probable scenario could be bullish. The moving averages confirm that the bullish trend is still valid, while the Fibonacci extension level of 161.8%, around $2,950, is the major technical resistance level that is currently in effect. This article was submitted by Antreas Themistokleous, an analyst at Exness. The opinions in this article are personal to the writer. They do not reflect those of Exness or FX Empire. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":37651,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-37650","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t