Gold ends with 7th straight weekly advance on Trump’s tariff fear

On February 15, weak data from the US and the U.S. Spot gold was very volatile and booked among traders who re -evaluate President Trump’s Tariff Policies. The yellow metal came closer to the highest level of all 2943; However, when the traders chose to book a profit, it slipped.

The yellow metal trades between 5 2854 (February 10) and 4 2943 (February 11) a week. He closed at a loss of 1.57% on Friday but managed to get a weekly benefit of about 0.90% to post the seventh weekly benefit.

Statistics

US Bonds U.S. Retail sales data is rallying around the yield curve on disappointing. Retail sales declined the most in almost two years in January, with consumers spent in question. Retail purchases, not adjusted to inflation, were 0.90%lower, though the December data was made in maximum 0.7%. Industrial dysfunction data (January) was better despite the regional surveys reflecting weakness.

US released at the beginning of the week Data showed that Core PPI Mom and Yo 0.3% and 3.6% their related forecasts are 0.2% and more than 3.1%. US PPI Data (January) was also expected because the PPI final demand mom was up 0.4% (forecast 0.3%) while PPI defeated 3.6% estimate of 3.3%, though some PCE components of PPI were in the TAM. Their expectations from December to September have been brought forward.

Reciprocal tariff

President Trump announced a reciprocal tariff on all related countries on February 13, including those countries that use VAT/any type of barrier to the US. Does for import. These tariff measures will be non-financial. US Commerce Secretary Howard will finalize the details of the lootnic tariff; Reports on the new proposed tariff are to be submitted by April 1.

Trump’s Russia-Ukraine Peace Initiative

US President Trump has launched a Ukraine peace initiative and spoke to his Russian counterpart Putin. Ukraine will also be part of peace negotiations.

USD LAR LAR index and US yield

The ten -year -old US yield was very unstable throughout the week. 45.4545% and 4.6666%. The yield on Friday was down 1.2% to 48.4848% and BPS was almost below the week. The 2 -year yield of 26.6% a week was also about B BPS. The US de Dollar Ler Index closed more than 1% in the week at 106.71.

Testimony of the fed chair Powell

In his two-day testimony for Senate Banking and Home Financial Services on February 11-12, the Fed Chair repeated his January FOMC trend that there was no rush to reduce the rate. He said that the US economy is doing well, the risk of loss of loss in the labor market has been reduced, and the central bank has made significant progress towards inflation, though more work is yet to be done. In addition, he said that he believes that the economy works best on their business partners without trade barriers.

Next data

Includes the main data and events on the cards next week

US – FOMC Minute (January 29), S&P Global US Manufacturing & Services PMI (early February), University of Michigan Sentiment and inflation expectations (February final) Housing Start (January)

Europe: Services and Product PMI (early February).

Asia: China – New Home Prices (January) 1 -year and 5 -year loan prime rate decisions by PBOC and Japan – GDP 4 Q Preley. CPI (January).

ETF

The total known Global Gold ETF Holdings was at 83.728 mos on February 13 as the ETF has so far recorded a net flow of about 0.9 mos this year.

COMEX Gold Inventory

On February 12, the EX Max Gold Inventory was at 36.454 mos, as the gold stock on COM Max has more than doubled, as investors seeking delivery instead of going for cash settling in the US in November 2024 The results of the presidential election.

Decorate

President Trump’s Ukraine comes out to be less serious than the fear that there is a negative development for peace initiatives and reciprocal tariff metal. At the same time, the US ISM Services (January), a mixed job report (after the total number of 2024 jobs by 586K jobs after BLS) and expected US Retail Sales (January) metal is helpful. The Dollar Ler Index is likely to be under pressure on the proposed Ukraine peace negotiations, which can also support the metal. Hot inflation data may have mixed effects for metal. Overall, at balance, gold has been well placed on its ongoing rally to expand on macroeconomic and political uncertainties. However, this rally is chosen to buy dips chasing because Trump’s mild tariff trend is a big negative factor for the metal. Support is at $ 2858/$ 2830/$ 2790. The resistance is at $ 2900/$ 2945/$ 3000.

(Author Associate Vice President, Basic Currency and Commodity at Sher Khan by BNP Paribas)

(Connection: The recommendations, suggestions, opinions and opinions provided by experts have their own. This does not represent opinions of economic time)