The post Gold price crumbles below $3,300 as trade hopes fade, US Dollar stays firm appeared on BitcoinEthereumNews.com.

Gold fails to hold gains despite falling US Treasury yields and softer DXY. Trump’s refusal to lift China tariffs without concessions sours market mood. Traders brace for heavy US data week including GDP, ISM and Nonfarm Payrolls. Gold price made a U-turn and erased Thursday’s gains, falling below the $3,300 mark as the Greenback remained bid and Bullion failed to capitalize on falling US Treasury yields. A de-escalation of the trade war between the US and China sponsored a leg-down in the precious metal, which exchanged hands at $3,294, losing over 1.60%. Markets remain volatile as sentiment swings between risk-on and risk-off due to comments made by US President Donald Trump. Earlier, Bloomberg revealed that China wants to exempt some US products from tariffs. Traders reacted positively to the news, but later Trump said he “won’t remove China tariffs unless they give us something.” Sentiment went sour, and even though the Greenback paired some of its gains with the US Dollar Index (DXY) edging down, it remains up 0.23% at 99.51. This prevents Gold from recovering some ground, and it seems traders were caught off guard after booking profits ahead of the weekend. US Consumer Sentiment worsened in April, according to the University of Michigan (UoM), which reported the fourth lowest reading since the late 1970s. Next week, traders are eyeing the release of the US JOLTS report for March, the first reading of Q1 2025 Gross Domestic Product (GDP), the ISM Manufacturing PMI, and April’s Nonfarm Payrolls figures. Regarding the chances of the Fed reducing interest rates at the upcoming meeting, traders see a 92% chance of keeping them unchanged, according to Prime Market Terminal. Nevertheless, traders expect the fed funds rate to end the year at 3.45%, equal to 86 basis points of easing (bps). Source: Prime Market…

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Filed under: News - @ April 26, 2025 7:26 pm