The dollar is recovered and the customs talks are progressing … Where does the price of gold go?

The price of gold has ended Friday’s trading significantly, at 3337 dollars an ounce, a decrease of $ 31.64 (0.94%), affected by the weak technical indicators and the rise of the US dollar, in addition to the improvement of the morale of risk in the markets, which negatively affected the yellow metal.

The dollar is recovered and the trade talks are progressing

The American index witnessed a strong recovery on Friday, recovering from its lowest levels in two weeks.
This rise came in conjunction with the low weekly unemployment claims to the lowest level in three months, which strengthened expectations for the hardship of the American labor market.
On the other hand, the role of gold alloys as a safe haven fell on Friday with the increasing confidence in the trade talks between the United States and the European Union.
After reaching a final agreement between the United States and Japan earlier last week, the European Union expressed its confidence in reaching an agreement with Washington by the deadline on the first of August.

Landing and ascending expectations

The technical analysis of the “FX Empire” platform indicates the end of the average moving gold price for 50 days at 3341.0 dollars.
This decline confirms that it was not just a slight decrease, but rather indicates the refraction of the short -term bullish momentum, and opens the door to a greater decline towards the following bullish and dramatic support levels:
Technical analysts are now giving attention to 3310 dollars as the first landing goal, followed by 3282 dollars, then 3244 dollars.
On the upper side, it stands for 50 days at 3341 dollars, which will constitute an immediate resistance, along with the summit of the Friday session at 3373 dollars, then the last summit at 3439 dollars as follows.