Today’s Gold Analysis Overview:
- Today's gold price support points: $3320, $3285, and $3225, respectively.
- Today's gold price resistance points: $3360, $3389, and $3425, respectively.
- Today's gold trading Signals: Buy at every low without risk.
Technical Analysis of Gold Price (XAU/USD) Today:
A new historical record bullish breakout for the gold price index as gold bullion prices jumped to the resistance level of $3350 per ounce, the highest in gold price history, at the start of today's Thursday trading. Yesterday's trading session was the best daily performance since April 2020, when there was record demand for buying and trading gold during the peak of the Covid pandemic. According to trading data, gold futures have risen by 40% over the past year, surpassing Wall Street's market expectations for 2025, but it's not just nervous investors who are buying gold. Central banks are playing an influential role in the future of gold prices.
Why is the Price of Gold Rising Non-Stop?
According to gold market experts' forecasts, gold prices continued their historical record rise without stopping, as increasing unpredictability in US trade policy, declining demand for the US dollar, and falling US Treasury bond yields have turned gold into one of the most important safe-haven assets in the market.
Recently, US President Trump launched an investigation into imposing new tariffs on base metals, escalating the trade war with China shortly after concessions were made in the auto and electronics sectors. This move expanded the scope of existing investigations into copper, pharmaceuticals, timber, and semiconductors, increasing the scope of tariffs on key commodities that the United States does not have sufficient capacity to produce.
Meanwhile, dovish monetary forecasts from major global central banks have bolstered the case for zero-coupon bullion assets. Inflation was weaker than expected in the United States, Canada, the United Kingdom, India, and the Eurozone in March, while the People's Bank of China indicated it may cut key interest rates this quarter.
Trading Tips:
Dear TradersUp website follower, the almost non-stop upward trend of gold still has us monitoring risk-free selling zones, and we advise monitoring the factors affecting the market, which is the main topic of discussion.
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Upcoming Gold Recommendations and Forecasts:
So far, the overall outlook for gold prices is bullish. Technically, gold analysts' forecasts indicate the possibility of successive record-breaking upward breaks, with the $3,500 per ounce resistance being the next target for bulls. Central bank gold purchases remain at elevated levels, with tariffs likely accelerating global central banks' efforts to diversify their reserves into gold. Also, the US dollar's decline to a three-year low adds to the positive momentum for bullish gold trading.
However, it must be considered that the consecutive record gains have been sufficient to push technical indicators towards strong overbought levels. Examples of these technical indicators include the MACD, RSI, Stochastic, and even moving averages. A calming of geopolitical and trade tensions will ultimately translate into strong profit-taking sell operations for spot gold prices.
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