• This Thursday had a fresh level of all time in the amount of around USD 2,955.
• US President Donald Trump called Ukraine a dictatorship that began the war.
• There are more ups of all time in gold, if green next to it weakens, and we let go.

The price of Gold (xau/USD) orbit near his fresh highest all time after printing one in early European trade on Thursday. Push comes above after the President of the United States (USA) Donald Trump said that a trade agreement with China may be possible. Geopolitical fears at the same time increased after President Trump said that Ukraine had started the war with Russia and said that it was time to pay off the US for all funding provided.

Meanwhile, the minutes of the Federal Reserve (FED) on the January political meeting issued on Wednesday had little influence. Only a handful of members of the Federal Open Market Committee (FOMC) were in favor of a fixed interest rate and without rush in the case of no cuts. Considering this, the chances of reduction of interest rates still stand in June.

Daily Digest Market Movers: Flights to New York

• Thousands of zlotys bars are physically transferred from the treasures of the Bank of England to the American Futures market, revealing logistic bottlenecks on the global market. This movement is powered by the possibility of arbitration created by speculation that US President Donald Trump will impose tariffs on gold, and traders buy gold in London and sold Futures contracts in the USA, informs Bloomberg.
• Gold Fields Ltd. said that his full year of profit increased by 77% last year after the price of precious metals increased, while the company began to overcome operational challenges in the mines in Chile and South Africa, informs Reuters.
• Relations between the USA and Ukraine reached a modern level on Wednesday, and the madness in social media between US President Donald Trump and the President of Ukraine Volodymyr Zelenskiy. There are more and more fears that Trump could stop American support for Ukraine after Russia attacked a neighbor in 2022. The US leader said in social media on Wednesday that Wolodymyr Zelenskiy should “better move” to achieve a contract with Russia, “” Or I will not leave a country, “Bloomberg reports.

Technical analysis: end of the road

Even with a gentle tariff and a possible trade agreement between the USA and China, traders will still have sufficient reasons to push Xau/USD. The path up to $ 3,000 looks fixed and it’s just a matter of time before gold reaches it. As in the case of several other asset classes, when the madness of precious metal reaches the masses, sales would be a clue.

The first support for Thursday is USD 2,947, R1 Pivot Point resistance, which coincides with the highest Wednesday level. Next Daily Pivot Point is USD 2,933. Below this level, Wednesday’s support and S1 support coincide at the price of USD 2,919, which should be mighty enough to support and low pressure on sale.

On the other hand, the target level of Thursday is R2 after USD 2,961. In a airy economic calendar, the level will probably be tested later during the day. From there comes a 3000 USD handle, although it may be a bit too high to test it this week.

Xau/USD: Daily Chart

(This story was improved on February 20 at 10: 19GMT to say that traders buy gold in London and sell Futures contracts in the USA, reports Bloomberg, and not “Bloomberg supports”)