Today’s Gold Analysis Overview:
- Overall Trend: Bullish.
- Today's Gold Price Support Levels: $3280 - $3220 - $3170 per ounce.
- Today's Gold Price Resistance Levels: $3340 - $3380 - $3420 per ounce.
Today's gold trading signals update:
- Sell gold from the resistance level of $3400, with a target of $3250 and a stop-loss at $3465.
- Buy gold from the support level of $3260, with a target of $3400 and a stop-loss at $3200.
Technical Analysis of Gold Price (XAU/USD) Today:
The easing of market and investor concerns has supported profit-taking selloffs in gold prices recently, as spot gold prices retreated from their all-time high when they tested the $3500 per ounce peak. At that time, we noted the possibility of initiating profit-taking sell orders at any moment. Obviously, these movements pushed the gold price index downwards towards the support level of $3260 per ounce before quickly rebounding to stabilize around $3311 per ounce at the beginning of today's Thursday trading session.
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Gold Investors are Asking: Has the Bullish Trend for Gold Prices Ended?
Answer: So far, the overall trend for gold prices remains bullish. Recent selling has not yet amounted to a breakout. The initial breakout, based on the performance on the daily chart, would require a move toward the $3,169 per ounce support level. As we mentioned before, global trade and geopolitical tensions and the negative impact of the US dollar will continue to support gold gains in the coming days.
Let's not forget, according to gold trading platforms, that gold prices have risen by more than 30% since the beginning of 2025, and the gold-to-silver ratio has widened to its highest level since 1994, excluding the pandemic.
Trading Tips:
We still advise buying gold from every downward level.
Adding to the selling pressure on gold bullion was investors' reaction to US President Donald Trump's statements regarding China and the US Federal Reserve, which eased market tensions that could have provided more strength to gold prices. Recently, the gold price index fell by as much as 2.6%, continuing its declines after jumping to a record high above $3500 per ounce during trading this week.
Moreover, the sudden reversal in the price of an ounce of gold began as some investors took profits from the sharp rise. Selling continued after Trump backtracked on a move to dismiss Federal Reserve Chairman Jerome Powell, while making positive statements about the trade war with China. Trump stated in the middle of the week that tariffs on Chinese goods "will be reduced significantly but will not go to zero."
Overall, precious metals prices remain higher by more than a quarter this year, as the trade war, expectations of a global slowdown. Also, the tensions between the Trump administration and the Federal Reserve have combined to increase demand for safe haven assets. Furthermore, the gains were supported by investor expansion in exchange-traded funds (ETFs) and central bank purchases of gold bullion.
Technical Outlook for Gold Prices:
According to the performance on the daily timeframe chart above and the forecasts of gold analysts today, gold prices remain bullish, and the resistance areas of $3375 and $3420 per ounce will support the bulls for a technical breakout towards new historical record highs. Despite the recent selloffs, the MACD indicator is still in the overbought zone, but the RSI indicator is below the overbought line and still has more room before reaching the midline, which means that the chances of an upward movement are still stronger. Be cautious, dear trader, as the support level of $3169 per ounce is important for the bears to control future prices. Decisively, the gold buying strategy will remain in place until further notice.
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