- Prices of gold flirting with 1% loss on Monday, when traders reduce trade in tariff in gold.
- The Secretary of the US Treasury Bessent commented that several contracts are on the table with several Asian countries.
- Gold makes it easier when traders are preparing for potential transactions in Asia and other countries from the USA, reducing the risk of tariffs.
The price of gold (XAU/USD) is marked at some profit, trading around USD 3290 at the time of writing on Monday. Correction appears after a television interview at ABC with Scott Bessent Scott Bessent in ABC with Scott Bessent, who mentioned that several great contracts were on the table with Asian countries. “If there are 180 countries, there are 18 important trading partners, let’s hand over China to the side, because it is special negotiations, there are 17 important trading partners, and we have a trial,” said Bessent and added: “Some of them move very well, especially in Asian countries.”
In addition, the Secretary of Agriculture in the USA Brooke Rollins said on Sunday that Trump’s administration has daily talks with China about Reuters tariffs. Rollins noticed ongoing talks between two nations and that trade agreements with other nations were “very close”. It seems that it can be more gentle in tariff history, which removes the wind from golden height.
However, the decrease in Gold prices may be constrained because the Chinese Ministry of Foreign Affairs repeated on Monday that President XI Jinping and US President Donald Trump had not recently had a phone call. “The United States and China did not negotiate or consult tariffs,” noted the ministry.
Looking to the future for the rest of the week, the central point will take place in April Non -Farmy payroll (NFP) Edition on Friday. American data as a whole will pay much more attention as a barometer to assess the next stage of the Federal Reserve (FED), and the Federal Open Market (FOMC) Committee provided another decision on the interest rate on May 7. Last week in the US began to show signs of change, for example, enduring goods revealing a significant change in consumer sentiment.
Daily Digest Market Movers: Focus on Panama in trade and tariffs
- Tubani Resources, an African gold miner capitalized at $ 61 million on Australian Securities Exchange (ASX), trades after providing liabilities by high $ 160 million in the Joint Venture with a family office, informs that the financial review.
- The Thailand bond market has been up to date with the best monthly influx in over three years, assisted by the zone zones and stronger Baht due to rising gold prices, informs Bloomberg.
- China takes control of the plans of the billionaire Hong Kong Li Ka-Shing to sell his Panama ports to the group supported by Blackrock Inc., while US President Donald Trump was looking for preferential treatment of American ships on the waterway, increasing uncertainty as to whether the hit transaction.
Technical analysis of gold price: storage support
Although on Monday it is softening again, traders and analysts are still calling for more attention for precious metal. Despite several trade agreements on the table and negotiations, the US President Trump mentioned on Friday that the delay is not discussed at the moment to release the tariffs. Meanwhile, rhetoric between China and the USA does not show signs of actual conversations after the Chinese retailer Shein raised prices for American markets by more than 100%to transfer the costs of importing the tariff too customer.
Daily Pivot Point for USD 3318 is the first obstacle to recover on Monday. From there it is quite a episode up to USD 3424 for hitting R1 resistance. The highest level of all time in the amount of USD 3,500 will be a firm ceiling on the point of advantage, which makes R2 resistance 3,529 for an almost uncomfortable level to reach this Monday.
On the other hand, S1 support provides a pillow of USD 3,266, roughly running down with the lowest title of USD 3,260. Further down comes the technical key floor near $ 3245 (April 11). Finally, S2 support in the amount of USD 3,2,33 should prevent further slowing down to a key level of USD 3167 (April 3).
Xau/USD: Daily Chart
Frequently inflicted by American-chin
In general, the trade war is an economic conflict between two or more countries due to extreme protectionism at one end. This means creating trade barriers such as tariffs that cause a counterattack, escalating import costs, and thus maintenance costs.
The economic conflict between the United States (USA) and China began at the beginning of 2018, when President Donald Trump established trade barriers for China, claiming that unfair commercial practices and theft of intellectual property from the Asian giant. China took retaliation, imposing tariffs on many American goods, such as cars and soy. The tension escalated until both countries signed trade agreements in the American-Chinese phase in January 2020. The agreement required structural reforms and other changes in the Chinese economic and commercial system and pretended to restore stability and trust between two nations. However, Coronevirus’s pandemic focused on the conflict. It is worth mentioning, however, that President Joe Biden, who took office after Trump, kept the tariffs and even added additional fees.
The return of Donald Trump to the White House as 47. The US president caused a fresh wave of tension between two countries. During the election campaign in 2024, Trump undertook to impose a 60% tariff on China after returning to the office, which he did on January 20, 2025. With the return of Trump, the trade war in the USA-China is aimed at resuming where it remained, with the principles of Tatat, influencing the global economic landscape among the global resources, which will reduce, which will reduce, which will reduce, which will reduce, which will reduce, which will reduce, which Especially investments, as well as directly nutrition in indexing consumers.
