Today’s Gold Analysis Overview:
- The Overall Gold Trend: Upward.
- Today's Gold Support Levels: $3310 – $3270 – $3220 per ounce.
- Today's Gold Resistance Levels: $3385 – $3425 – $3490 per ounce.
Today's gold trading signals update:
- Sell Gold from the $3420 resistance level with a target of $3250 and a stop-loss of $3470.
- Buy Gold from the $3270 support level with a target of $3400 and a stop-loss of $3230.
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Technical Analysis of Gold Price (XAU/USD) Today:
During last week's trading, the price of an ounce of gold on the COMEX exchange rose by $181.60, or 5.71%, to $3363.60. This marks the largest net weekly gain and percentage increase since the week ending April 11, 2025. The gold price index closed the week's trading stable around the $3357 per ounce level. Across gold trading platforms, the price has increased by 1.77% since the beginning of the month. In the same performance, gold bullion prices have risen by 27.93%, or $734.40, since the start of the year.
Trading Tips:
Dear TradersUp follower, we still advise monitoring the factors influencing the gold market, keeping in mind that buying on every dip is the best approach, but do not take excessive risks.
Will gold prices rise in the coming days?
According to gold analysts' expectations, the answer is: yes. Gold, copper, and silver prices have risen after US President Trump threatened to impose a 50% tariff on European Union imports starting June 1. For gold, traders expect its rise to continue through the fall and winter seasons. Amid ongoing global trade and geopolitical tensions, some strong trading opportunities are expected within a price range of $3100 to $3500 per ounce. Gold prices closed the previous month up 2.2%, and recently, gold has risen by 5.7% during the week.
Furthermore, the recent gains in the gold market were sufficient to move the 14-day Relative Strength Index (RSI) away from the midline, giving bulls additional momentum to prepare for stronger upward breakouts before moving towards overbought levels. At the same time, the MACD indicator lines are turning upwards. This week will be important for the US dollar and, consequently, for the gold market, as investors await important and influential economic releases, in addition to monitoring US administration policies that affect investor sentiment. Always keep in mind that the gold bullion market is one of the most important safe havens in times of uncertainty, which increases the pace of buying by global central banks and investors as a hedge against risks.
Uncertainty began late last Friday after Moody's credit rating agency downgraded its rating for US debt. In the final minutes of the trading week, gold managed to break through the initial resistance level of $3200 per ounce. As last week ended, the price of gold regained its strength above the $3300 per ounce resistance. Also, analysts note that gold continues to solidify its position as a global monetary safe haven. However, some believe this also poses short-term risks.
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