• The price of gold attracts some support from modest slowdown and trade uncertainty.
• The bullish market mood and reduced FED reduction factories can limit the growth of Xau/USD pair.
• Traders are now waiting for the USA in the US to get an impulse for the weekend.

The price of gold (Xau/USD) climbs into a fresh daily top, about USD 3350 in the first half of the European session on Friday and aims to build a good day from the previous day from over a week’s lowest level. The American dollar (USD) drifts lower in response to the governor of the Governor of the Federal Reserve (FED) Christopher Waller and has been leaving the highest level from June 23 affected on Thursday. This, along with the growing fears of the irregular commercial policy of US President Donald Trump and their influence on the global economy, turns out to be a key factor that supports the goods.

However, every significant fall of USD seems elusive as a result of the growing acceptance that the FED has delayed the reduction of interest rates, among the signs that the growing import taxes of Trump’s administration are switching to consumer prices. In addition, a generally positive tone around capital markets should contribute to limiting profits at a unthreatening price of gold. Nevertheless, the Xau/USD pair remains on the right track to register modest losses for the first time in three weeks, because traders are now waiting for data with American macro to get tiny -term possibilities later during the North American session.

Daily Digest Market Movers: Benefits of the price of gold, because the drifts USD Number on Gołębice Notes from Fed’s Waller

• The Federal Reserve Governor (Fed) Christopher Waller said at the end of Thursday that the growing risk for the economy is conducive to politics indicators. The central bank should reduce interest rates in July among the evidence that the labor market is becoming weaker, Waller further added. This, in turn, exerts pressure on the American dollar during the Asian session on Friday.
• Meanwhile, traders value the valuation of 50 base points worth facilitating the FED this year. In addition, the growing concerns about the potential economic fall from the irregular commercial policy of US President Donald Trump can still act as a wind in unthreatening gold. Trump recently announced a 50% tariff for copper imports to the USA.
• Adding to this, Trump informed the leaders of 25 countries with up-to-date tariff rates, which will start on August 1, and also plan to send letters to over 150 countries notifying them that their tariff rates can be 10% or 15%. This should keep investors on the edge and justifies caution before positioning for any significant depreciation movement for precious metal.
• On the front of economic data, the US Department of Trade announced on Thursday that retail sales increased in June by 0.6%, opposing market expectations and signaling a slight reflection of consumer expenditure. This meant a significant improvement after a decrease in 0.9% in May and 0.1% of the inheritance in April, which gives a flash of optimism for the economy that fights.
• Adding to this, the initial unemployed claims in the US fell on the fifth week in a row, to 221,000 in the week ending on July 12 or the lowest level from three months. This suggests that the American labor market remains resistant, despite concerns about the inflationary influence of the US higher tariffs, confirming the factory that the Fed may delay the reduction of interest rates and favoring USD bulls.
• Fed Governor Adriana Kugler said that still limiting the attitude of politics is essential to maintain anchoring inflation expectations, and for some time it will be proper to maintain the policy rate at the current level. Separately, President Atlanta Fed Raphael Bostic noticed that economic perspectives remain very uncertain, and the reductions of the rates can be challenging in a tiny period.
• The FED is widely expected to maintain its reference interest rate in the 4.25% -4.50% range at the upcoming political meeting this month. This, in turn, can act as a wind for the inflexible yellow metal. Traders are now waiting for preliminary consumer moods in Michigan and the expectations of inflation to gain tiny -term possibilities.

The price of gold must break through an obstacle in the field of trade, nearly USD 3365 for bulls to take control

From a technical point of view, the last price -related action from the beginning of this month is the creation of a rectangular chart pattern and indicates the indecision between traders. In addition, neutral oscillators on the daily chart require caution before setting the next stage of directional movement. Therefore, any further slide can still find decent support before the $ 3300 number. The convincing break below, however, may cause the gold price to accelerate the fall towards the July swing, around 3248-3 247 USD.

On the other hand, any positive transition outside USD 3352 immediate obstacle can attract fresh buyers and remain narrow near the region 3 365-3 366 USD or the upper limit of the short-term commercial range. Another passage beyond the latter, however, can cause a tiny rally and allow you to recover the gold price of USD 3,400. The upside trajectory can stretch towards testing another essential obstacle near the area of 3 434-3 435 USD.