Gold changes flat after confirming Trump at a decrease in 10-year profitability, not the FED policy indicator

Gold’s High High is currently 2,882.35 USD printed on Wednesday.
Gold saw the Secretary of the Treasury of the United States Bessent revealed that Trump wants to lower 10-year crops, not a reduction in Fed rates.
The winning bullon series is threatened with snap and directed for sale on Thursday in Asia.

The price of Gold (Xau/USD) is ahead on Thursday and trading around USD 2,859 at the time of writing. The slide is mainly caused by the comments of the Secretary of the US Treasury Scott Bessenta, who said that Trump’s administration focuses on a reduction in 10-year treasury profitability, and not the reference of the short-term interest rate of the Federal Reserve (FED).

On the front of economic data, all eyes will be in the monetary policy decision of the Bank of England, in which the interest rate reduction is expected by 25 points (BPS), to 4.50% after shortening it by 50 BPS throughout 2024 (Fed) Governor Christopher Waller, President of San Francisco Fed Mary Daly and President Dallas Fed, Lorie Logan, will speak on Thursday, before the Friday edition of non -Farmy data.

Daily Digest Market Movers: Drive forces

Comments of the US President Donald Trump about Gaza and a recent nuclear agreement with Iran reassure the tail risk element in the markets, which means that investors are recovering certain items in the gold, informs Bloomberg. It is also expected that Trump will present the plan next week to end the war in Ukraine, which will aid to alleviate the risk bonus.
Trade markets are ready to break free from a two -year breakdown when it takes place at the prices of precious metal and agriculture. The total indicator of the return of Bloomberg goods, which trades a basket of 24 energy, metals and agricultural futures, has already increased by 5.9 percent to the highest level from the end of 2022 – which was the golden year of the raw materials, because the economies returned to hibernation Covid -19 and The war in Ukraine was havoc in supply chains, informs Bloomberg.
Gold in the Bank of England Vault has a discount on a wider market, because the fears of Trump’s potential tariffs cause a fight that causes a weekly queue of metal withdrawal, informs Reuters.
The Bank of England is to issue a decision on monetary policy at 12:00 GMT. The expectation applies to a reduction in interest rates with a base rate of 4.75% to 4.50%.

Technical analysis: Risk of header increased

Markets must change their attitude quite quickly, which means that gold is not in a sweet place this Thursday. “Peace” comments of US President Donald Trump surprise markets and support a more risky attitude, which means that safe and sound races are absent. Since gold is clearly one of them, the sale of pressure on Thursday can persist until there is a contradictory headline or commentary.

The S1 support level on Thursday is the first nearby support for USD 2,8343. From there, S2 support should be 2820 USD. In the case of correction, a higher level 2,2,2000 USD (previous level of October 31, 2024) should be able to catch any falling knives.

On the other hand, the R1 resistance is USD 2886, slightly above the current highest level of all time. In the event that the rally can accumulate where it ends, the level of advantage in terms of daily key levels is R2 resistance near USD 2,905 after breaking above USD 2900.

Xau/USD: Daily Chart