Today’s Gold Analysis Overview:
- Overall Trend for Gold: Still bullish.
- Today's Gold Support Levels: $3320 - $3300 - $3260 per ounce.
- Today's Gold Resistance Levels: $3360 - $3400 - $3450 per ounce.
Today's gold trading signals update:
- Sell gold from the resistance level of $3400 with a target of $3300 and a stop-loss at $3470.
- Buy gold from the support level of $3290 with a target of $3420 and a stop-loss at $3220.
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Technical Analysis of Gold Price (XAU/USD) Today:
After the bulls failed to push the gold price index above the $3438 per ounce resistance, gold futures retreated amidst a temporary abandonment of gold as a safe haven. However, they pared some of their losses following the US Federal Reserve's decision to keep US interest rates unchanged, while warning of the uncertainty surrounding the economy as a result of tariffs.
According to gold trading company platforms, gold futures contracts concluded today's trading down by 0.9% to $3,381.40 per ounce, ending gold's three consecutive trading session gains and retreating from a new record high. However, with the Federal Reserve warning of further uncertainty, the gold price trajectory may soon record new record levels. But with the emergence of the US central bank's policy stance, the US dollar price recovered, which brought selling operations to gold prices, reaching the support level of $3320 per ounce before stabilizing around the $3335 level at the time of writing this analysis.
Trading Tips:
We still adhere to the strategy of buying gold from every downward level, but without risk, no matter how strong the trading opportunities are.
Gold Bullion Market Affected by Several Factors:
According to the latest events affecting the gold bullion market, the US central bank kept interest rates in the range of 4.25%-4.5%, pointing to continued economic uncertainty and increased market volatility. In its statement following the meeting, the Federal Reserve highlighted the increasing risks of inflation and unemployment, reinforcing its cautious stance on future interest rate adjustments. Prior to that, the gold market came under pressure with news of a meeting between US and Chinese officials this week, a development that weighed on demand for safe-haven assets. As is known, the talks are considered potential progress in easing trade tensions, which escalated sharply last month when President Trump raised tariffs on Chinese imports to 145%, while lowering them for most other US trading partners.
In response, China imposed hefty tariffs, further increasing pressure on global trade dynamics.
Upcoming Gold Trading Scenarios:
Despite the recent gold selloffs, gold analysts' forecasts indicate that the strongest path for spot gold prices will remain upward, and the $3400 per ounce resistance will remain a symbol of the bulls' strong control over the trend, thus preparing for new record upward breakouts. The direction of the Relative Strength Index (RSI) is still upward and will not test the overbought zone without returning to the $3400 peak and higher. At the same time, the MACD indicator is in an upward and overbought position. Breaking the bullish direction of spot gold prices requires a move towards the $3220 per ounce support.
For now, the strategy of buying gold bullion from every downward level remains the strongest, as global trade and geopolitical tensions and global central bank bullion purchases remain the most prominent factors supporting gold bulls for a longer period of time.
Let's not forget that gold prices recorded gains of 30 percent during 2025 trading, as investors fled to safe havens amid widespread market turmoil caused by Trump's aggressive trade and geopolitical policies. It reached a record high above $3,500 per ounce during April trading, before retreating slightly in recent weeks. Also, this rise was driven by speculative demand in China and central bank buying.
Recently, investors largely ignored the escalating tensions in South Asia, where India launched military strikes against Pakistan. For its part, Islamabad said it shot down five Indian aircraft and described India's move as an "act of war." Usually, the possibility of a conflict between the two nuclear neighbours supports gold buying, although this seems to have been offset by the potential easing of global trade tensions.
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