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Gold Tests Key Levels at 2673

Trump Tariffs Send Gold Higher

Gold prices tested important levels at 2673 in general, and this level is considered very important in the market or the gold market in particular. After the US Federal Reserve minutes that were issued on Wednesday and showed a division between members of the Federal Committee regarding interest rates, these levels were expected in the current period. As for the global situation, there are clear tensions before Trump took office. We also cannot ignore the tension between Ukraine and Russia, which plays a major role in the market. This is considered one of the important influential factors.

Friday will be issued many important indicators in the markets, most notably:
1- The average American per capita income per hour, which is expected to decrease, which may lead to an increase in gold prices.
2- New jobs in all sectors except the agricultural sector, which is considered one of the most important indicators in the market, and may contribute to an increase in gold prices if the data is negative.
3- The US unemployment rate, which is expected to remain at 4.2%. But if it rises to 4.3%, this may lead to an increase in gold prices as well.
4- The US Consumer Confidence Index.
5- Inflation expectations, which are an important factor in the market.

In general, gold has important levels in the market, as the daily closing level of 2675 above it is considered a sign of the possibility of further rise, with the level of 2720 targeted as a potential target. It is preferable that the quantities allocated for trading be small and in proportion to the size of the capital.