The price of gold falls near 3200 dollars amid commercial hopes and expectations to reduce interest

The markets witnessed a wave of optimism after progressing in trade talks between the United States and China, in conjunction with hopes for a close breakthrough in the Russian -Russian conflict. This improvement in the appetite for risk promoting investors away from gold as a safe haven, which has contributed to pushing prices to decline.

The weakness of the dollar did not support gold as usual

Despite the continued decline in the US dollar due to the expectations of US interest reduction in 2025, the yellow metal did not benefit from this weakness, indicating that sales pressure on gold is still strong, especially in light of the prices remaining in a narrow cross range during the past week.

Moody’s reduces the credit rating of the United States and a limited effect on gold

Moody’s has reduced the credit rating of America to one degree, warning against the exacerbation of public debt, but these news did not support gold as usual, due to the commercial optimism that dominated the mood of investors.

Various statements from US federal officials

The statements of federal reserve officials ranged between caution and optimism, as some expressed concern about the continued inflation, while others stressed that the American economy is still strong. These variations keep monetary policy expectations unclear, which increases market fluctuations.

Trump announces the start of the ceasefire talks between Russia and Ukraine

In an important geopolitical development, former US President Donald Trump revealed the approval of Russia and Ukraine to start the ceasefire negotiations, which strengthened the climate of optimism in the global markets, and increased pressure on the price of gold.

Gold faces strong resistance and approaches critical support levels

Technically, gold failed to overcome the moving average for 200 periods, with negative signals continuing on technical indicators, which enhances expectations with more decline towards 3120 and 3100 dollars, if the current support is broken at 3177 dollars.

Expectations: The main resistance and support levels of the price of gold

Next Support: 3200, then 3177 and 3120 dollars
Immediate resistance: 3250, then 3275, to $ 3,300
The general trend: Badd in the short term, unless the $ 3252 barrier is firmly hacked