- Gold sees investors as the best hits ever on Wednesday, $ 2,877.
- Stocks are lower in Asia, which was resumed after the holidays of the Lunar New Year.
- Gold Seseraly has been growing to a streak of Afre Day.
Gold prices (XAU/USD) gather five times in a row on Wednesdays, accounting for more than 2.5 % of this week's profits, and investors load precious metal products to hit the freshest price of nearly $ 2,877. More softer economic data from the United States (the United States) supports other interest rate reductions from the Federal Reserve (Fed), and lives money every day, along with prompt tariff fears.
In terms of economic data, the calendar can be an additional tailwind for higher gold. This Wednesday, the US Purchased Manager Index (PMI) data will be released in January. With a softer PMI print, it is enough to turn off the money to the highest height ever.
Daily digest market Mover: Hits in a painful place
- Investors and traders are parked in cash away from high -tech stocks, but the fact that they are safe due to the fresh lowness in the United States is increasing the profit as inflation is reduced. Bloomberg has reported.
- At 14:45 GMT, S & P Global will release the final reading of Puchaishing Managers Index in January. The ISM service PMI is expected to be stable at 52.8.
- At 15:00 GMT, the Supply Management Research Institute (ISM) also releases PMI data for the entire service sector.
- PMI is expected to be checked from 54.1 in December to up to 54.3.
- The price was 64.4 last time, but there was no prediction.
- The CME FEDWATCH tool has a probability of 83.5 % that does not change interest rates in a meeting on March 19, but is 16.5 % of 25 basic points reduction.
Technical analysis: Sweet spot
Kim is shed again tears, and I hope that China will return to the market after the New Year holidays in China. The bullion rally is on Wednesday on the fifth day, so we hope that Chinese traders will catch up with it. This means that a short dip or pullback is purchased with interest. Since there is no longer a reference level of historical value, the pivot point level during the day is becoming more and more important.
This Wednesday Pivot Point Level is the first support near $ 2,831. From there, the S1 support should arrive for $ 2,818, but it doesn't look like the best. Instead, look for $ 2,793 S2 support. This is almost the most important level of $ 2,790 (the highest value before October 31, 2024).
On the other side, the 2,869 R2 resistance is the next level to watch, and large numbers such as $ 2,880 and $ 2,900 are continuing. In addition, some analysts and strategists have already called for $ 3,000.
XAU/USD: Daily chart
Customs FAQ
Customs duties are duties imposed in the import of specific products or categories of products. Customs duties are designed to support local producers and manufacturers more competitive in the market by providing price advantage rather than similar products that can be imported. Customs duties are widely used as a protective tool, along with trade barriers and import assignments.
Both tariffs and taxes generate government income to provide funds to public goods and services, but there are several distinctions. Customs duties are paid in advance at the immigration port, but taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and companies, and customs duties are paid by importers.
There are two ways of thinking about the use of tariffs. Some claim that tariffs are needed to protect domestic industries and deal with trade imbalance, but others may raise them over the long term, and THE-TAT tariffs. Some believe that encouraging it is a harmful tool that can damage the trade war.
In the preparation for the presidential election in November 2024, Donald Trump stated that he would use tariffs to support the US economy and US producers. In 2024, Mexico, China and Canada accounted for 42 % of the US imported products. According to the US Census, Mexico was $ 466.6 billion and was outstanding as a top export country. Therefore, Trump wants to concentrate on these three countries when imposing tariffs. He also plans to reduce the personal income tax using the profit generated through customs duties.
