- The price of gold remains supported in the middle of the intensive needs of the ETF.
- Downbeat American service PMI helped customers of gold to become gains.
- The US CPI data data remains a key event for golden traders.
The price of gold remains supported by a complicated complicated mixture of dynamics, with the requirements of the ETF, which plays a key role in a lathy decline of traditional consumer demand. Although more prices are discouraged retail purchase, potential reduction in the rates of supply rates, weak economic data and geopolitical risk, is held by a safe stretched demand intact. The total demand for gold in the United States fell 34% K / x to 124 tons, but increased by 110% compared to the same period of 2024. This was attributed to the robust inflow of the ETF during the first half of 2025. Years.
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Gold also found support from the economic front because the PMI ISM service PMI fell to 50.1 in July, which is the lowest level in more than a year. The data reveal slow growth in the American services sector, which contains 75% of American GDP. Key components, such as business activity and new orders, softened, while price pressure rose to 2022. Years due to tariffs and growing prices of goods. On the other hand, the weakness in the labor market is also a threat to Greenback.
These events quickly switched expectations for the Federal Reserve Policy. Markets do not provide for 92% probability to reduce the rate on the September meeting, with another incision from October. Even a cautionary statement from phenogram officials will be interpreted as a confirmation of policy facilitations.
Geopolitical concerns and sticky inflation due to the risks related to tariffs continue to hold the gold request. Institutional and central banking capital, combined with macro uncertainty, proposes that the demand for gold will remain higher during the second half of 2025. Years.
The following main catalyst for golden traders is American data data to confirm that inflation is cooling or to speed up. Both scenarios will strongly influence the reduction of the exchange rate decreases and, in turn, and gold prices.
Technical analysis of gold price: ready to regain $ 3,400
The four-sea card for gold shows a strong bacara trend despite returning on Wednesday Asian session. Other remains for lowering SMA and momentum lower $ 3,350. The other key average average also indicates more profit. Meanwhile, RSI remains above the 50.0 mark, suggesting further bull room.
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The imminent gold resistance occurs at $ 3,390, which is a recent swinging high in front of the round number to $ 3,400. 23. July About $ 3,440 is a top outstanding target. On the side of turn, the immediate support appears on $ 3,350 forwards of $ 3,320.
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