Today’s Gold Analysis Overview:
- The Overall Trend for Gold: Still bullish.
- Today's Gold Support Levels: $3282 – $3220 – $3150 per ounce.
- Today's Gold Resistance Levels: $3320 – $3375 – $3410 per ounce.
Today's gold trading signals update:
- Sell gold from the resistance level of $3350 with a target of $3200 and a stop-loss at $3410.
- Buy gold from the support level of $3210 with a target of $3400 and a stop-loss at $3140.
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Technical Analysis of Gold Price (XAU/USD) Today:
Confirmation of US trade agreements with other global economies will support further gold selling and thus prepare for new downward breakouts. I expect a downward price gap for spot gold prices due to investor and market optimism from US signals of an imminent agreement with China. Gold bullion prices closed the week's trading stable around the $3326 per ounce level, giving up the gains of the same week that reached the resistance level of $3348 per ounce. The gold price index gains since the beginning of 2025 have reached 30 percent amidst record demand for buying gold as a safe haven in light of global geopolitical and trade tensions and increased historical central bank purchases of gold bullion to hedge against the risks of Trump's policies.
Trading Tips:
We still prefer the trading strategy of buying gold from every downward level, but without risk and while monitoring the factors affecting the gold bullion market.
According to gold trading company platforms and through the daily timeframe chart, gold prices have begun to form a downward channel that lacks the strong momentum to confirm a downward shift. Bear control over the gold trend may increase by moving towards the support levels of $3220, $3145, and $3100 per ounce, respectively. After the recent losses, the 14-day Relative Strength Index (RSI) is strongly heading towards the midline, confirming the start of a bearish shift. At the same time, the MACD lines have turned downwards. Overall, confirming the strength of the trend reversal to bearish requires more time and losses.
Meanwhile, the path of gold will remain dependent on the easing or increase of global geopolitical and trade tensions and the amount of central bank purchases of gold bullion.
Gold market analysts expect gold prices to remain high, even if the rise is limited. They believe that exceeding the historical psychological peak of $3500 per ounce will require more time and positive catalysts. According to licensed trading company platforms, the relatively neutral movement of gold prices comes after the US Federal Reserve confirmed that it is not in a hurry to cut US interest rates, as the US economy remains relatively stable, and inflation risks remain high.
Although the US Federal Reserve is still expected to cut interest rates this summer, some analysts believe that gold's upward momentum has shifted to a "wait and see" mode. They expect gold buying to continue on dips.
According to gold market analysts, the biggest risk to gold trading in the near term is the growing optimism that Donald Trump and his administration will end the trade war with China at the end of this week, as the two countries begin negotiations.
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