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Gold Climbs Above $3,670 as Dip Buyers Take Advantage of Firm US Dollar and Strong Asian Demand

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  • September 20, 2025
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Gold rebound above $3,670 on Friday after briefly reaching weekly lows of $3,630, as dip buyers jumped in despite a strong US Dollar and an increase in US Treasury yields. The demand was underpinned by strong demand from China and India, which countered the plunge in Swiss exports to the US under tariff uncertainty. The last 25-basis-point rate cut by the Fed, which indicates a low-rate regime, also supported bullion, aiding XAU/USD’s bounce back following successive bearish days. Technical analysis indicates the bullish trend may persist, with possible tests of all-time highs around $3,703 if the momentum is sustained. KEY LOOKOUTS • Future Fed actions and economic statistics, such as Core PCE, Durable Goods, and GDP releases, may determine gold’s direction. • Robust demand from China and India continues to provide a strong underpinning for bullion, counterbalancing weakness in Western markets. • A sturdy US Dollar and increasing Treasury yields may pressure gold, so XAU/USD’s stability is even more noteworthy. • Important support at $3,650 and resistance around $3,703–$3,750 will dictate short-term price action. Gold remains resilient as it bounces back above $3,670 on the back of dip buyers and robust Asia demand, even with a solid US Dollar and higher US Treasury yields. The recent cut by the Fed in interest rates has made the low-rate environment friendly, prompting investors to shift back to the non-yielding metal. Even though Swiss exports to the US collapsed strongly on the back of tariff uncertainty, sharply higher shipments to China and India have supported bullion’s upside. Technical charts indicate the rally could persist, with $3,703 and $3,750 serving as pivotal resistance levels to monitor. Gold recovers over $3,670 as decline buyers return, with healthy demand from China and India. With a firm US Dollar and increasing Treasury yields, the uptrend in bullion holds. Pivotal resistance levels to monitor are $3,703 and $3,750. • Gold rebounded off weekly lows at around $3,630 and trades above $3,670. • Dip buyers intervened in the face of a strong US Dollar and increasing US Treasury yields. • China and India’s robust demand helped underpin bullion over faltering Swiss exports to the US. • The recent 25-basis-point Fed rate cut set a positive low-rate backdrop for gold. • XAU/USD reversed following back-to-back bearish sessions, up more than 0.69%. • Technical indicators indicate possible resistance at $3,703, $3,750, and $3,800. • The key support levels are $3,650, $3,613, and $3,600 in case the uptrend weakens. Gold is gaining momentum as buyers step in to purchase after declines, underpinned by renewed demand from significant Asian markets. Imports from China and India have risen sharply, counteracting the disruption of Swiss exports to the US due to tariff uncertainty. The appeal of the metal is also enhanced by the recent Fed rate cut, which has established a conducive environment of low interest rates that usually favors non-yielding assets such as gold. XAU/USD DAILY CHART PRICE SOURCE: TradingView Market sentiment remains cautiously optimistic with global economic factors still driving bullion demand. As the US Dollar and Treasury yields remain robust, solid consumer and industrial demand from Asia has been supportive of gold prices. Market players are keeping a close eye on upcoming economic data and central bank moves, which are set to drive market trends in the coming weeks. TECHNICAL ANALYSIS Gold has moved back into its uptrend after rebounding above $3,670, with momentum indicators like the Relative Strength Index (RSI) registering fresh bullish momentum after recovering from overbought territory. The key resistance levels to monitor are $3,703, $3,750, and $3,800, which may serve as potential targets in case the buying pressure is maintained. On the other hand, support is expected around $3,650, with additional cushioning near $3,613 and $3,600, giving traders clear levels for entry and exit points. FORECAST Gold will continue to go higher in the near term on the back of firm Asian buying and the supportive low-rate environment fostered by the recent Fed rate cut. If buying continues, XAU/USD may touch key resistance at $3,703 and even $3,750, with a possible revisit to $3,800 on sustained momentum. But a turn around cannot be avoided if the US Dollar gets stronger or Treasury yields shoot up sharply. Then gold will be under selling pressure, with initial support at $3,650 and further down targets at $3,613 and $3,600, which can be used as crucial levels for dip buyers to again get in.

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Commodities Gold

Gold Bulls Defy as Fed Rate Cut Speculations and Safe-Haven Demand Fuel XAU/USD

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  • September 10, 2025
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Gold remains to demonstrate strength as bullish mood continues to dominate, buoyed by hopes of Federal Reserve rate cuts and revived safe-haven demand. The yellow metal recovered its lost ground after a slight decline from an all-time high, supported by softer-than-anticipated US employment data, ongoing geopolitical tensions, and political uncertainties in France and Japan. Even as a small recovery in the US Dollar and overall positive risk sentiment might limit advances, gold is well-placed close to all-time highs as market participants await fresh cues from the next US Producer Price Index (PPI) and Consumer Price Index (CPI) releases. KEY LOOKOUTS • Market participants will look closely at the next US Producer Price Index (PPI) and Consumer Price Index (CPI) releases, which might dictate the next direction for gold prices. • Expectations of possible Federal Reserve interest rate reductions continue to underpin safe-haven demand for gold. • Escalating Middle East tensions, Russia-Ukraine hostilities, and political unrest in France and Japan could support the safe-haven appeal of gold. • Any US Dollar rebound or favorable risk mood in international markets can be a headwind, capping risky advances in gold. Gold continues on an upward slope as bulls maintain the upper hand, helped by hopes of Federal Reserve rate cuts and increased safe-haven demand in the face of global uncertainties. Soft US jobs data, coupled with political turmoil in France and Japan and increasing geopolitical tensions, have driven gold’s allure as a safe-haven asset. Although modest US Dollar gains and overall good risk mood might abate sharp buying, the market is concentrating on future US inflation figures, which are set to determine the short-term direction of the XAU/USD cross. Gold remains close to historic highs on back of Fed rate cut hopes and safe-haven buying against geopolitical and political risks. US PPI and CPI data will guide the next move. Cautious USD advances and favorable risk appetite can limit further rallies. • Gold (XAU/USD) regained its lost steam after a brief dip from an historic high. • Fed rate cut hopes underpin positive sentiments in gold. • Subpar US jobs numbers made the argument for more stimulus through monetary policy even more compelling. • Geopolitical tensions, such as the Israel-Hamas war and Russia-Ukraine, enhance gold’s safe-haven demand. • Political unrest in France and Japan contributes to uncertainty in markets, which is bullish for gold. • US PPI and CPI reports due out shortly are significant events that can help determine gold’s near-term trajectory. • Technical resistance at $3,640–$3,645, and the record high close to $3,675 that serves as a strong resistance. Gold remains in focus among investors as sentiment remains bullish, fueled by hopes of Federal Reserve rate reductions and fresh safe-haven demand. Downbeat US employment data has supported the perception of a weakening jobs market, leading markets to price in future policy loosening. Geopolitical risks, including the Israel-Hamas clashes and the evolution of the Russia-Ukraine standoff, and political uncertainties in France and Japan have also fueled gold’s appeal as an insurance asset. XAU/USD DAILY CHART PRICE SOURCE: TradingView In spite of an overall favorable risk climate and modest US Dollar recovery, gold is strongly supported at near-record levels. Market players are looking closely toward soon-to-be-released US inflation reports, including the Producer Price Index (PPI) and Consumer Price Index (CPI), to offer new guidance to the XAU/USD pair. The blend of macroeconomic variables, geopolitical uncertainty, and policy anticipation continues to support gold as a premier safe-haven asset. TECHNICAL ANALYSIS Gold is in a bullish trend but encounters some short-term resistance. The daily Relative Strength Index (RSI) is overbought, indicating that a short-term pullback or consolidation may take place before more upside. The principal support levels are at $3,600 and $3,580, whereas short-term resistance is at the $3,640–$3,645 level. A breach above the last all-time high at around $3,675 would set the stage for the $3,700 level round number, but bulls should be reluctant amid the overbought level. FORECAST Gold can be expected to move higher over the short term if positive drivers like Fed rate cut hopes, global tensions, and safe-haven appetite are in place. A continuous breakout above $3,675 previous record high can drive the XAU/USD currency pair towards $3,700, inviting follow-through purchases from bearish traders. Good risk appetite or sustained US Dollar weakness can further add to the upside momentum. On the negative side, any more-than-anticipated US inflation numbers or sudden US Dollar rebound could put a lid on gains and set the stage for a corrective reversal. Levels of support to pay particular attention to lie in the zones of $3,600 and $3,580, while a more severe decline has its sights on the $3,565–$3,560 region. Care is advised, since overbought technicals indicate little short-term scope for aggressive bullish wagers.

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Commodities Gold

Gold Hits Record $3,600 as Soft US Jobs Data Spurs Fed Rate Cut Hopes

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  • September 6, 2025
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Gold soared to an all-time high of $3,600 on Friday after disappointing US Nonfarm Payrolls (NFP) data fueled speculations of Federal Reserve rate reductions. The report released 22,000 jobs in August, short of expectations, and sent the unemployment rate to 4.3%, while wage growth stagnated. As a response, US Treasury yields fell, the US Dollar lost value, and investors rushed towards the safety of Gold. Concerns from the market regarding Fed independence, combined with speculation of a possible 50-basis-point reduction by analysts, helped sustain bullion’s rally before next week’s release of the US Consumer Price Index (CPI). KEY LOOKOUTS • Next week’s CPI data will be closely monitored by investors to determine inflation patterns and likely Fed rate cuts. • Expectations of a 25–50 bps rate reduction will shape Gold’s short-term course. • Dropping yields and a weak Dollar continue to propel Gold’s bullish trend. • Gold is at major resistance of $3,650 and $3,700, while a fall below $3,600 would potentially pave the way to $3,511 and $3,500. Gold reached an all-time high at $3,600 as weak US labor market statistics kindled hopes of near-term Federal Reserve rate cuts. The August Nonfarm Payrolls report was disappointing with a mere 22,000 jobs being added, nudging unemployment upwards while leaving wage growth unchanged. Declining Treasury yields and a weakening US Dollar added to the bullion’s safe-haven appeal. Market fear of Fed independence, as well as hopes of a potential 50-basis-point reduction, has supported Gold’s positive bias before next week’s US Consumer Price Index (CPI) release. Gold broke the all-time high at $3,600 following dismal US jobs numbers that increased prospects of Fed interest rate reductions. Declining Treasury yields and weaker Dollar powered the rally, with markets now looking towards next week’s CPI release for direction. • Gold touched an all-time high of $3,600 after soft US Nonfarm Payrolls data. • August jobs report reported adding just 22,000 jobs, below estimates of 75,000. • US unemployment rate increased to 4.3%, while wage growth stabilized at 0.3% MoM. • US Treasury yields, particularly the 2-year note, plummeted hard, increasing Gold’s attractiveness. • The US Dollar Index (DXY) fell 0.70% due to risk-off flows. • Potential Fed rate cuts of 50 bps or so are anticipated by analysts, such as Standard Chartered. • Gold near-term technical resistance is at $3,650 and $3,700, with near-term support at $3,511–$3,500. Gold jumped to a record $3,600 as softer-than-forecast US labor market data fueled speculation the Federal Reserve will restart rate cuts. The August Nonfarm Payrolls report indicated just 22,000 jobs added, below forecasts, and the unemployment rate increased to 4.3% and wage growth was steady. Disappointing jobs numbers raised concerns about the health of the US economy, and investors turned to the safety of Gold. XAU/USD DAILY CHART PRICE SOURCE: TradingView Market sentiment was also impacted by declining Treasury yields and a softer US Dollar, both of which benefited bullion’s attractiveness. Analysts such as those at Standard Chartered emphasized prospects for material Fed easing over the next few months, enhancing expectations for rate cuts before next week’s US Consumer Price Index (CPI) report. Political uncertainty with regard to the Fed’s independence contributed further to the bearish outlook for Gold. TECHNICAL ANALYSIS Gold’s technical bias is strongly bullish following a break above the $3,600 level, indicating a strong uptrend. The immediate levels to watch for resistance are $3,650 and $3,700, where profit-taking might occur. On the bearish side, a close below $3,600 on the daily chart might open up support at $3,511, and then come the psychological $3,500 level. On a general basis, the trend indicates that the bulls are dominant, and additional gains are expected if Gold manages to hold above support levels. FORECAST Gold is expected to remain on a rising course in the short term if market sentiment is supportive. On expectations of Fed interest rate cuts and a softer US Dollar, prices have the potential to test resistance levels around $3,650 and even $3,700. The positive momentum can continue as investors look to safe-haven assets in anticipation of key US economic data. But negative risks persist if Gold cannot stay above $3,600. A sustained decline below this may push prices into correction to $3,511, then $3,500, as investors may take profits or respond to better-than-forecast US economic statistics. Reactions of markets to the US Consumer Price Index (CPI) announcement will be pivotal to deciding the next way forward.

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Commodities Gold

Gold Under Pressure: Dollar Strength and Profit-Taking Weigh, Fed Uncertainty Provides Cushion

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  • August 27, 2025
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Gold (XAU/USD) is selling off in Wednesday’s early European trading session, giving back a two-week high of $3,395 as dollar strength and profit-taking pressure the metal. Nevertheless, doubts regarding the independence of the US Federal Reserve, sparked by the bid to oust a Fed governor from former President Donald Trump, give the metal underlying support as investors look for safe havens. Traders currently look to Friday’s US July PCE inflation reading for new direction, with warmer-than-expected numbers set to restrict the Fed’s space for cutting rates. In addition, geopolitical tensions, most notably from the Russia-Ukraine conflict, are also dominant drivers of short-term gold price action. KEY LOOKOUTS • Profit-taking and firmer US Dollar are weighing on Gold below its recent two-week peak. • Fed independence fears as Trump tries to remove a governor are underpinning safe-haven demand. • US July PCE inflation reading on Friday may set the tone for Fed’s rate-reduction trajectory. • Geopolitical tensions, particularly the Russia-Ukraine war, could spur new volatility in Gold prices. Gold prices declined during initial European trading on Wednesday amid profit-taking and a small recovery in the US Dollar, which dragged the metal lower from a two-week high. Even this pullback has not dissuaded worries about the independence of the US Federal Reserve after former President Donald Trump’s bid to oust a Fed governor. Investors now focus on Friday’s US July PCE inflation report, which is seen to shape the Fed policy perspective and might determine Gold’s next direction. Also, persisting geopolitical tensions, notably the Russia-Ukraine war, remain a major driver for market sentiment of the yellow metal. Gold recedes from two-week peak as profit-taking and US Dollar strength hamper prices. Nonetheless, Fed independence fears and geopolitical tensions continue to offer safe-haven support prior to the US July PCE inflation report. • Gold pulls back from a two-week peak of $3,395 as profit-taking and US Dollar strength bear down on prices. • Worry about the independence of the US Federal Reserve helps to underpin safe-haven demand for Gold. • Donald Trump’s attempts to oust a Fed governor have injected political uncertainty. • The US July PCE inflation report, expected at 2.6% YoY headline and 2.9% core, is awaited by traders. • A more-than-anticipated PCE print would cap the Fed’s rate-cutting ability in September. • Geopolitics, more so the conflict between Russia and Ukraine, continue to be major drivers of Gold sentiment. • Despite near-term sell-offs, Gold remains in a bullish longer-term tone underpinned by safe-haven demand. Gold is now walking a fine line as global market sentiment continues to be driven by both political and economic events. A stronger US Dollar and profit-taking have put pressure on it, yet safe-haven demand still supports the yellow metal. Political uncertainty has increased after Donald Trump’s actions against a Fed governor, raising doubts about the independence of the US Federal Reserve, prompting investors to turn to gold as a hedge against political and financial uncertainty. XAU/USD DAILY PRICE CHART SOURCE: TradingView Meanwhile, investors are watching closely for coming economic statistics, specifically the US July PCE inflation reading, which will set the tone for monetary policy expectations. Aside from economic metrics, geopolitics such as the Russia-Ukraine war continue to be important, as further tensions will boost demand for gold, while indications of peace could soften its attraction. All these factors put gold in the limelight as investors consider risk versus security in an uncertain world. TECHNICAL ANALYSIS Gold holds a bullish bias even after the recent pullback, with prices keeping above the crucial 100-day Exponential Moving Average (EMA). The 14-day Relative Strength Index (RSI) is just above the midline at around 56.80, indicating continued bullish bias. The nearest resistance comes at the $3,400–$3,410 band, a breach of which could open the way for $3,439 and possibly the $3,500 level. On the downside, sustained weakness below $3,325 could expose the next support around $3,200, keeping traders cautious of any deeper correction. FORECAST Gold can continue to make gains if the price is pushed above the key $3,400–$3,410 resistance level. The journey upward can be sustained further towards $3,439, then the psychological $3,500 mark, which coincides with April’s highs. Safe-haven buying prompted by Fed independence fears and geopolitical tensions can add to the bullish momentum in the short term. Conversely, however, if profit-taking and US Dollar strength remain in control, Gold may once again come under pressure. A firm breach below $3,325 would likely leave the next significant level of support at $3,200, which is the lower edge of the Bollinger Band. Any less-than-expected inflation figures or reduced geopolitical tensions would further fuel this downward move, curbing gold’s short-term attractiveness.

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Commodities Gold

Gold Remains Steady Near $3,350 as Markets Wait for US CPI Figures and Clarity on Tariff Policy

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  • August 12, 2025
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Gold remained steady around $3,350 on Tuesday after yesterday’s steep fall, as investors waited for the July US CPI figures to get new leads on the Federal Reserve’s policy outlook. Market sentiment was positive following US President Donald Trump’s declaration exempting Gold imports from new levies, together with hopes of Russia-Ukraine peace negotiations and an extension of the US-China tariff moratorium. Although geopolitical and trade dynamics gave some respite, investors remained on guard, with the next inflation data due soon to be the catalyst for Gold’s next direction. KEY LOOKOUTS •  July inflation report should reveal headline CPI at 0.2% MoM and 2.8% YoY, with core CPI expected to increase 0.3% MoM. • Trump’s revelation exempting Gold imports from new tariffs relieved supply chain fears but markets are holding out for an official executive order. • Hopes for Russia-Ukraine peace negotiations and a 90-day US-China tariff truce extension have soothed near-term market nerves. • Gold continues below important resistance at $3,400 with bears risks to $3,320 and $3,250 unless CPI data triggers a bounce. Gold prices recovered around $3,350 on Tuesday after Monday’s steep 1.6% decline to a one-week low as markets waited for the release of the US Consumer Price Index (CPI) data for July. The valuable metal gained modest support from a weaker US Dollar and stable Treasury yields, as well as relief at US President Donald Trump’s announcement that Gold imports would be excluded from new tariffs. Hopes of possible Russia-Ukraine peace talks and the extension of the US-China tariff truce have alleviated near-term geopolitical and trade tensions. But with Gold still below the crucial $3,400 resistance level and technical indicators pointing to declining momentum, the next inflation report may be the ultimate catalyst for near-term price direction. Gold is trading at near $3,350 as market players wait for crucial US CPI data for new policy signals. Tariff relief on Gold imports and reduced geopolitical tensions provide comfort, but prices continue to be capped below $3,400 resistance. • Gold stabilizes around $3,350 after Monday’s 1.6% loss to a one-week low. • Traders look to July US CPI figures, due to demonstrate headline inflation at 2.8% YoY. • Trump declares Gold imports to be exempt from new US tariffs, alleviating supply fears. • Hopes for Russia-Ukraine peace talks and a 90-day US-China tariff truce extension improve mood. • US Dollar and Treasury yields are still subdued ahead of inflation data. • Technical charts indicate resistance at $3,400, with downside objectives at $3,320 and $3,250. • Weaker CPI might favor Gold prices, while hotter inflation might support the US Dollar and weigh on bullion. Gold prices traded around $3,350 on Tuesday as investors remained on their guard before the release of the US Consumer Price Index (CPI) for July, a key event likely to shape the next policy action by the Federal Reserve. The market gleaned some respite after US President Donald Trump announced Gold imports would be exempt from fresh US tariffs, easing fears over near-term supply chain disruptions. Optimism regarding potential Russia-Ukraine peace talks and the 90-day extension of the US-China tariff truce also eased market tensions, although investors continue to look for near-term economic data for clearer direction. XAU/USD DAILY PRICE CHART SOURCE: TradingView July CPI is seen to report headline inflation increasing 0.2% MoM, with the year-over-year rate rising to 2.8%. Core CPI, stripping out food and energy, is seen increasing 0.3% MoM and 3% YoY, reflecting continued underlying pressures. These are watched closely for evidence that tariffs are being passed through into inflation and for their likely influence on the Fed’s September interest rate decision. Further focus will shift to comments from Fed officials later in the day, as well as future economic releases such as the Producer Price Index (PPI) and Retail Sales that may continue to influence market forecasts. TECHNICAL ANALYSIS Gold continues to struggle beneath the crucial $3,400 psychological level, with repeated failure to push higher maintaining it as a firm resistance area. On the 4-hourly chart, the prices are below both the 21-period SMA at $3,377 and the 50-period SMA at $3,363, showing diminishing bullish momentum. Relative Strength Index (RSI) is around 37, reflecting increasing downside momentum short of oversold levels, while the MACD remains in negative levels with a bearish crossover, reinforcing seller supremacy. There is immediate resistance at $3,363 and $3,377, with support at $3,330–$3,320, a break below which could reveal the $3,250 range floor. FORECAST If the US CPI report later this week is softer than forecasted, it may cement market views of a September interest rate reduction, weakening the US Dollar and enhancing the demand for Gold. A dovish turn in Fed commentary, combined with geopolitical and trade calm, may give Gold the push to retest the $3,377–$3,400 resistance range. A clear break above $3,400 would pave the way for a move to $3,450, with still higher gains on offer should safe-haven demand pick up. On the other hand, a hotter-than-anticipated CPI print would curb rate cut hopes, advance the US Dollar, and bear heavily on Gold prices. A breakdown below the $3,330–$3,320 support level may initiate a more severe correction to the floor of the $3,250 range. An extended violation of this level might intensify selling pressure, which could bring the $3,000 level back into play if risk appetite turns against safe-haven assets.

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Commodities Gold

Gold Price Stays Below $3,400 as Fed Rate Cut Speculation and Trade Nerves are Offset by Profit-Taking

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  • August 8, 2025
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Gold prices (XAU/USD) stayed under the $3,400 level on Friday, cutting intraday losses thanks to profit-taking and a small US Dollar rebound. An overall risk-on tone in international markets constrained safe-haven seeking, but trade tensions, sparked by US President Donald Trump’s newly announced tariff policies, and robust expectations of a September Federal Reserve rate cut softened the downside. Further support was provided by China’s ongoing gold buying for a ninth consecutive month, as weak US labor market indicators supported dovish Fed sentiment. Technical levels are overall bullish biased, albeit short-term gains are resisted, while investors wait for new signals from future FOMC speeches. KEY LOOKOUTS •  Markets are pricing more than a 90% chance of a September rate cut, with at least two cuts by end-year, underpinning gold price. •  Trump’s new tariffs on Indian imports and scheduled levies on semiconductors and pharma keep safe-haven demand in the limelight. •  Upside capped at $3,422–$3,435, with robust support at $3,350 and the 200-period SMA on the 4-hour chart. •  Ongoing accumulation by China’s central bank for the ninth straight month provides a fundamental tailwind for bullion. Gold prices remained below the $3,400 level on Friday as profit-taking and a modest US Dollar recovery dented the metal, even as trade tensions and dovish Federal Reserve expectations provided support. Market sentiment favored the day on the back of Asian equity gains, damping safe-haven demand, but Trump’s new tariff moves and China’s nine months of consecutive buying of gold capped the downside. Weak US labor market data further supported expectations for a September rate cut, maintaining the overall outlook as cautiously bullish while technical resistance levels remain to cap near-term gains. Gold prices remained below $3,400 on Friday as profit-taking negated the positive impacts of trade tensions and expectations for Fed rate cuts. China’s ongoing gold purchases and soft US labor data supported, though robust technical resistance curbed further advances. •  Gold price (XAU/USD) still below $3,400 due to profit-taking and a modest recovery in the US Dollar. •  Risk-on mood from rallying Asian equities diminishes safe-haven demand. •  Trump’s new Indian import tariffs and forthcoming levies on other products maintain trade tensions. •  China’s central bank is buying gold for the ninth consecutive month in July. •  Soft US labor market data supports hopes of a September Fed rate cut. •  Technical resistance at $3,422–$3,435 and robust support at $3,350. •  General bullish tilt remains in place, but investors look for new direction from future FOMC orations. Gold prices remained firm below the $3,400 mark on Friday as markets weighed profit-taking against continued support from international economic and geopolitical realities. Risk-on sentiment in equities, especially in Asia, relaxed some safe-haven demand, while a slight US Dollar rebound placed mild pressure. But increased trade tensions—fueled by US President Donald Trump’s recent tariff action against Indian imports and impending tariffs on semiconductors and pharmaceuticals—kept investors on guard. Meanwhile, China’s central bank continued its gold shopping binge for the ninth straight month in July, adding to demand for the metal from a strategic reserve viewpoint. XAUUSD DAILY PRICE CHART SOURCE: TradingView On the macro level, soft US labor market data put more credibility to bets that the Federal Reserve will restart its rate-cutting cycle this September as markets are pricing in a high probability of several cuts by the end of the year. The US Jobless Claims report indicated an increase in unemployment applications, indicating a slowing jobs market and building the case for easier monetary policy. At the same time, political events surrounding the leadership of the Fed—like the President Trump’s nomination of Stephen Miran and possible successors to Chair Jerome Powell—provided an added layer of uncertainty for investors. These factors combined still dictate gold’s position as both a hedge against economic uncertainty and an overarching strategic asset for central banks. TECHNICAL ANALYSIS Gold’s recent climb through the $3,383–$3,385 zone of supply, combined with upbeat daily chart oscillators, is bearish for now, but short-term upside momentum is held back at around $3,422–$3,423 and the $3,434–$3,435 area. A convincing break above here may send the door ajar toward the $3,500 psychological level last visited in April. On the negative side, the $3,353–$3,350 region—coinciding with the 200-period SMA on the 4-hour chart—is still a critical support level, with a break below opening up $3,315 and $3,300 before revisiting the one-month low of $3,268. FORECAST If gold can hold on to its buying momentum beyond the $3,385 support area, the metal may revisit the $3,422–$3,423 resistance zone, with added strength leading towards $3,434–$3,435. A break above this area would most likely prompt bullish investors to head for the $3,500 psychological level, spurred possibly by ongoing Fed rate cut hopes, trade tensions, and central bank buying. Conversely, a breakdown below the $3,353–$3,350 support—underpinned by the 200-period SMA on the 4-hour chart—may change sentiment in favour of sellers, highlighting $3,315 as the next bearish target. Subsequent weakness below this level may drive prices towards the $3,300 round number and eventually the one-month low at $3,268, if risk appetite firms up and the US Dollar mounts a stronger recovery.

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Commodities Gold

Gold Prices Rally Near Two-Week High as USD Weakens on US Fiscal Worries and Global Geopolitical Risks

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  • May 22, 2025
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Gold prices rallied to a near two-week high, holding above $3,300, as a weakening US dollar combined with rising fiscal worries in the US. Investor concern over growing US deficit, amid Moody’s recent downgrade of the nation’s sovereign credit rating and divisive tax bill, has dented dollar confidence. Fears of renewed US-China trade tensions and rising geopolitical threats, such as simmering Middle Eastern conflicts, have further fueled demand for gold as a haven asset. Technical indicators further indicate a positive outlook for gold, with the price breaking key resistance levels and ready to test higher targets in the near term. KEY LOOKOUTS •  Investors will watch closely what happens with the US tax-cut and spending bill, which could dramatically add to the national debt and affect market sentiment. •  Bets on additional Fed interest rate cuts in 2025 in response to weakening growth and softening inflation continue to be a key driver of the US dollar and gold prices. • Disputes over export controls and technology restrictions linger, potentially raising geopolitical risks, and underpinning gold’s safe-haven appeal. • Ongoing tensions in the Middle East and major-power rivalries between countries such as Russia are also fueling uncertainty, underscoring gold’s use as a defensive asset. Investors are watching closely as the evolving US fiscal situation plays out, with the approval of a large tax-cut and spending measure risking expansion of the national debt and dampening market sentiment. While that is on its way out, expectations the Federal Reserve will cut interest rates again in 2025 as the economy slows and inflation eases continue to weigh on the US dollar, supporting gold’s allure. Increased tensions in US-China trade relations, specifically on tech exports, provide another source of geopolitical uncertainty, supporting safe-haven purchases. Furthermore, continued unrest in the Middle East and tensions among world powers maintain uncertainty, adding to gold’s role as a sanctuary in uncertain times. Markets continue to be preoccupied with US fiscal woes and possible Fed rate reductions, which are depressing the dollar and bolstering gold prices. Increased US-China trade tensions and continued geopolitical unrest continue to fuel safe-haven demand for the metal. • Gold prices went higher for the fourth straight day to set a near two-week peak of more than $3,300. • The US dollar is weak because of increasing fiscal fears and anticipations of Federal Reserve rate reductions in 2025. • Moody’s reduction of the US sovereign credit rating and concerns regarding the widening US deficit overhang market sentiment. •  The Republican-sponsored tax-cut and spending package may add trillions to the US debt, yet another reason for concern. •  Resurgent US-China trade tensions, particularly on the export of advanced technology, are amplifying geopolitical risks. •  Middle Eastern conflicts and tense international relations remain strong fundamentals for the demand for gold. •  Technical analysis indicates a bullish trend for gold, as prices break resistance levels and head towards $3,365 and further to $3,400. Gold prices have continued to climb as a background of increasing economic and geopolitical risks. Concerns among investors regarding the fiscal health of the United States are still at the forefront, particularly in the wake of Moody’s recent downgrade of the US sovereign credit rating. The threat of the passage of a large tax-cut and spending measure, which will add trillions to the national debt, has further spooked markets. Further, the US dollar has lost strength on expectations that the Federal Reserve will reduce interest rates in 2025 as economic growth slows and inflation eases. This pairing has made gold a more attractive safe-haven asset. XAU/USD DAILY PRICE CHART CHART SOURCE: TradingView Simultaneously, escalating US-China tensions over the export of technologies have fueled geopolitical risks, underpinning a risk-averse market mood. Middle Eastern conflicts, such as ongoing military interventions and humanitarian issues, provide another source of uncertainty, prompting investors to find shelter in gold. As several sources of risk coalesce, gold remains in favor with buyers in search of stability in a context of economic and political uncertainty. TECHNICAL ANALYSIS Gold has shown robust bullish strength, powering past major resistance levels of $3,250-$3,255 and holding above the 61.8% Fibonacci level of its latest bear move. Daily chart oscillators are becoming increasingly positive, implying upward trend momentum and that the direction of least resistance still is to the upside. This technical resilience is indicative of further advances toward the $3,365 area and even toward the $3,400 level, as long as the price remains above key support levels around $3,300. But any meaningful break below support might attract selling pressure, pushing lower levels of $3,250 and $3,200. FORECAST Gold prices are set to maintain their ascending direction as long as they remain above major support levels of $3,300. Favorable momentum and robust safe-haven demand fueled by continuing geopolitical tensions and US fiscal worries would propel prices to the next resistance level of $3,365. A break below this level would see gold challenging the psychologically important $3,400 level, boosted by continuing US dollar weakness and hopes of additional Federal Reserve rate cuts. On the flip side, inability to find support near the $3,300 level could pave the way for a corrective pullback. Sellers could engage near $3,255 if gold drops below $3,285. Yet a clear break below this support level may result in additional technical selling, pushing prices to the $3,200 level. Such a situation could occur if risk appetite upgrades considerably or if US economic reports lower expectations for monetary easing.

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Commodities Gold

Gold Retains Gains Near $3,250 as Safe-Haven Demand Increases Due to Economic and Geopolitical Fears

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  • May 19, 2025
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Gold has recovered to sit near the higher end of the intraday range at $3,250, amid increased safe-haven demand due to rising economic and geopolitical concerns. The recent credit downgrade of the US government by Moody’s, in combination with fears of growing debt and ongoing geopolitical tensions, has increased investor demand for the non-yielding metal. In addition, hopes of Federal Reserve interest rate cuts in 2025 and a weaker US Dollar are still supporting gold’s attractiveness despite hopes of a US-China trade truce and new trade agreements capping gains. Technical analysis suggests cautious optimism, with key resistance levels at $3,252 and $3,275 to watch before further gains can be confirmed. KEY LOOKOUTS • Gold’s ability to sustain gains above the $3,250-$3,252 resistance zone will be crucial to confirm a potential rebound and open the way toward the $3,300 mark. • Keeping a watch on US economic data and Federal Reserve statements is crucial, as dovish comments may continue to undermine the US Dollar and bolster gold prices. • The ever-present geopolitical risks in the Middle East and Russia-Ukraine tensions continue to be essential factors that may fuel safe-haven demand and shape gold’s direction. • A dip below the $3,200 support level may expose gold to more weakness towards $3,178 and even further to the $3,120-$3,100 area, probing lower support levels. Investors need to carefully monitor if gold is able to stay above the key $3,250–$3,252 resistance level, as a break above this level could set the stage for advances to the $3,300 level. Critical upcoming releases of US economic data and Federal Reserve speeches will also be crucial, as dovish indications can continue to weaken the US Dollar and underpin prices for gold. In the meantime, the ongoing geopolitical tensions in the Middle East and the Russia-Ukraine crisis continue to underpin safe-haven demand. On the other hand, a firm fall below the $3,200 support area may initiate additional selling pressure and drive gold to the $3,120–$3,100 levels to probe lower support levels. Gold’s next move depends on a break above the $3,250 resistance to reach $3,300, aided by safe-haven buying and a weaker US Dollar. Major US economic indicators and geopolitical tensions will also drive price action, while a fall below $3,200 may indicate deeper losses. • Gold price is hovering at the upper limit of its intraday range at $3,250 on the back of safe-haven demand. • Moody’s downgrade of the US credit rating has raised concern about the fiscal health of the US, adding to the attractiveness of gold. • US Dollar is weighed down by expectations of Federal Reserve interest rate cuts in 2025 and is supporting gold prices. • Positivity toward a US-China trade truce and possible new trade agreements tops the gold’s upside. • Political tensions in the Middle East and persistent Russia-Ukraine conflict support safe-haven buying. • The key resistance zones to monitor are $3,250–$3,252 and $3,274–$3,275; a break above may take prices to $3,300. • Support zones are around $3,200 and $3,178–$3,177; a break below may see prices fall further to $3,120–$3,100. Gold prices have strengthened recently as investors seek safety amid mounting economic and geopolitical uncertainties. The surprise downgrade of the US government’s credit rating by Moody’s has raised concerns about the nation’s fiscal health and growing debt, prompting a shift toward safe-haven assets like gold. Additionally, expectations that the Federal Reserve may cut interest rates in 2025 have weighed on the US Dollar, further enhancing gold’s appeal. Geopolitical tensions, especially persistent conflict in the Middle East and Eastern Europe, still keep demand for the precious metal as a defensive asset on the rise. XAU/USD DAILY PRICE CHART CHART SOURCE: TradingView In spite of some optimism over a short-term US-China trade truce and expectations of more trade deals, these encouraging developments have yet to assuage investor worries to a great extent. Ongoing risks such as revived threats of tariffs from the US administration and patchy economic indicators of diminishing growth keep investors in a subdued mood. Consequently, gold continues to be a popular choice for investors who wish to hedge against economic uncertainty and geopolitical tensions in the short term. TECHNICAL ANALYSIS Gold is now probing major resistance levels, implying subdued optimism among traders. The metal is testing resistance at its recent highs, which indicates that buyers are unwilling to drive prices much higher without greater momentum. Technical indicators and moving averages imply that gold might be consolidating and will wait for a definitive breakout to establish a sustained uptrend. On the other hand, any inability to penetrate these points of resistance may bring about temporary pullbacks, and thus it would be crucial that investors observe price action carefully before entering into new positions. FORECAST If gold can pierce the present resistance levels, it may be able to draw in fresh buying interest, sending prices higher. All this could be fueled by sustained geopolitical tensions, continuing US credit rating fears, and ongoing hopes for Federal Reserve rate reductions. Under these circumstances, gold may be able to experience a sustained rally as investors turn to it for protection against economic uncertainty and weakness in currencies. On the negative side, supportive news such as advancements in US-China trade talks or indications of more vigorous economic growth may undermine the attraction of gold as a haven. Moreover, any surprise hawkish cues from the Federal Reserve or revival of the US Dollar could act as a dampener on the prices of gold. Failing to support key levels of support might induce additional selling pressure leading to a pullback as market players reconsider risk appetite and migrate to high-yielding assets.

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Commodities Gold

Gold Price Pulls Back from Record Levels as US Trade Negotiations Ease Market Nerves

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  • April 17, 2025
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Gold prices pulled back from a new all-time high of $3,358, pulling back below the $3,300 level, as hopes for the United States’ success in trade negotiations with Japan and Mexico eased global market nerves somewhat. Nevertheless, the downside for gold is still limited, as persistent US-China trade tensions continue to underpin safe-haven demand. The US Dollar also gained modest strength after hawkish comments from Federal Reserve Chairman Jerome Powell and indications of diplomatic progress in trade talks. Although investors took some profits, the overall gold outlook remains bullish, supported by ongoing geopolitical concerns and robust technical momentum. KEY LOOKOUTS •  Although the recent correction from its all-time high of $3,358, gold’s overall trend is still bullish, underpinned by solid technical indicators such as the 14-day RSI remaining above 70 and EMAs pointing upwards. • The current dignity-driven confrontation between the US and China continues to offer a support level for gold prices, sustaining safe-haven demand in the face of global economic uncertainty. • The US Dollar Index recovered from close to a three-year low after trade talks with Japan and Mexico indicated advances, alleviating short-term concerns over global dislocation and weighing on gold. • Gold has firm resistance at the $3,400 level, while the 20-day EMA near $3,135.50 will serve as crucial support in case the correction further intensifies. Gold prices pulled back from a record high of $3,358 as progress in U.S. trade talks with Japan and Mexico slightly calmed global market jitters, prompting some investors to book profits. However, the ongoing U.S.-China trade tensions continue to support the precious metal’s appeal as a safe-haven asset, limiting further downside. Meanwhile, the U.S. Dollar made a small comeback, assisted by hawkish comments from Federal Reserve Chairman Jerome Powell and declining trade uncertainty, which also dented gold’s near-term momentum. Even with the correction, the overall outlook for gold remains positive, underpinned by robust technicals and ongoing global economic risks. Gold prices eased from a new all-time high of $3,358 as the advance in U.S. trade talks with Japan and Mexico calmed global economic uncertainty. Yet, current U.S.-China tensions are still boosting safe-haven demand, keeping the overall bullish stance for gold in place. • Gold prices corrected from a new all-time high of $3,358, falling back below $3,300 on profit-booking. •  Unsolved US-China trade tensions continue to provide underlying support for gold as a safe-haven asset. •  The U.S. Dollar recovered modestly from a near three-year low, limiting gold’s upside in the near term. •  Federal Reserve Chairman Jerome Powell’s hawkish comments indicated optimism about U.S. economic stability, which strengthened the dollar. •  Technical indicators are still bullish, with the 14-day RSI still above 70 and all key EMAs pointing upwards. •  $3,135.50 as solid support (20-day EMA) and $3,400 as key resistance. Gold prices softened as hopes increased about the advancement of U.S. trade negotiations with Japan and Mexico. Encouraging news from U.S. President Trump on the continuation of talks eased global market uncertainty, leading some investors to divert attention away from safe-haven commodities such as gold. The alleviation of trade tensions has for the moment dulled fears about possible disruptions in the global economy. XAU/USD DAILY PRICE CHART CHART SOURCE: TradingView But even with this advance, the unresolved China-U.S. trade row remains a lurking presence in the background, keeping market sentiment in check. The prospect of a standoff more about political ego than commerce, however, poses a guarantee that gold continues to be a critical buffer in times of uncertainty for investors. The market continues to be waiting for further developments as global economic risks are yet to run their course. TECHNICAL ANALYSIS Gold is still in the robust bullish trajectory despite recent correcting from an all-time high at $3,358. Prices are still trending well above principal moving averages, with all the short-to-medium-term Exponential Moving Averages (EMAs) rising – indicating prolonged demand. The 14-day Relative Strength Index (RSI) is still cruising above the level of 70, which implies that bull pressure is still firmly in place though some profit-booking at these high levels comes naturally. If the price continues its decline, the 20-day EMA at $3,135.50 is likely to serve as a strong support level, and on the upside, the $3,400 level is an important resistance barrier for any potential break. FORECAST Gold’s medium-term perspective is bullish, driven by ongoing global economic uncertainty and safe-haven demand, particularly as U.S.-China trade tensions persist. If positive momentum is regained, prices may retest the $3,300 level and target the psychological resistance of $3,400. Ongoing uncertainty regarding global trade relations, geopolitical tensions, and central bank policies can continue to drive further rallies in gold prices. On the negative side, any serious breakthrough in U.S. trade negotiations — particularly if the U.S. and China resume talks — would soothe global market jitters, taking some heat off gold. As long as profit-taking continues and the U.S. Dollar gains strength, prices of gold may drift toward the 20-day EMA level of $3,135.50, the next support point of note. A break through this would invite further corrections towards the $3,100 level.

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Commodities Gold

Gold Glitters at Record Highs as US-China Trade War and Fed Cut Speculation Fuel Rally

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  • April 11, 2025
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Gold prices are climbing near record highs at about $3,220 as tensions in the US-China trade war escalate and speculation of Federal Reserve rate cuts rises to drive demand for the safe-haven metal. The US Dollar remains weakening, and foreign investors find gold increasingly appealing, while softer-than-anticipated US inflation readings have made the case for monetary easing as early as June even stronger. In spite of a brief tariff reprieve for most US trading partners, the sudden spike in tariffs on Chinese imports has increased market uncertainty, further boosting gold’s bullish trend. With technicals signaling further upside, gold may be set to test the $3,250–$3,300 level in the near term. KEY LOOKOUTS • Momentum remains positive as the metal teases lifetime highs. A break above $3,250 on a sustained basis could set the stage for $3,300 and higher. • Weaker US inflation data spurs speculation of Fed rate cuts from June, with markets pricing up to 100 bps of cuts by year-end. • China’s retaliatory duties and the aggressive tariff increase of Chinese products by the US are escalating worldwide economic concerns, fostering safe-haven demand. • The DXY keeps declining, trading close to 100.20, as investors respond to trade volatility and mixed economic signs. Gold prices still fluctuate around historic highs at $3,220 with market sentiment remaining fueled by a combination of economic and geopolitical issues. The increasing US-China trade war, defined by reciprocal tariff increases, has increased worldwide uncertainty, prompting investors to turn towards safe-haven assets such as gold. While simultaneously, gentler-than-anticipated US inflation figures have enhanced hopes of Federal Reserve interest rate cuts beginning as early as June, fueling the rally of the metal even further. The weakening US Dollar, making gold cheaper for international buyers, joins the positive sentiment. With technical indicators still pointing toward upside space, gold may be in line to test the pivotal resistance point at $3,250 and possibly target $3,300 in the near term. Gold prices fluctuate near all-time highs of $3,220, supported by increasing US-China trade tensions and heightened hopes of Fed rate cuts. The weakening US Dollar and safe-haven demand still drive the bullish momentum of the metal. Focus now shifts to the $3,250 resistance level for the next break-out. • Gold prices are trading near all-time highs of $3,220 in the wake of increasing global uncertainty. • The heightening US-China trade conflict has prompted investor flight to safe-haven assets such as gold. • China responded with a 125% duty on US goods following the US imposition of a 145% charge on imports from China. • Weaker US inflation data has reinforced hopes of Federal Reserve interest rate reductions from June. • The US Dollar continues to deteriorate, making gold more desirable to foreign investors. • Policymakers at the Federal Reserve worry about reconciling inflation restraint with a weakening growth in the economy. • Gold is still in high demand as a protection against economic and geopolitical uncertainty. Gold prices are attracting firm investor attention as worldwide economic tensions escalate, led by the deepening US-China trade war. The most recent round of tariff hikes — with the US increasing duties to 145% on Chinese imports and China hitting back with a sharp 125% tariff on US goods — has introduced a new degree of uncertainty into world markets. These trends have renewed fears of dampening global growth and possible dislocations in international trade, causing investors to flock to safe havens such as gold, which historically does well during periods of geopolitical tension. XAU/USD DAILY PRICE CHART CHART SOURCE: TradingView Adding to the allure of gold is the changing economic outlook in the United States. Economic indicators most recently provided were softer than anticipated, solidifying expectations the Federal Reserve could start reducing interest rates as soon as June. The lower rates make assets that don’t pay interest, such as gold, more appealing since the cost opportunity of holding them is reduced. Coupled with a soft US Dollar and general concerns over economic deceleration, these forces are fueling rising demand for gold, making it a sought-after hedge in the uncertain world today. TECHNICAL ANALYSIS Gold is firmly bullish-trending, with the daily chart registering continuous upward momentum. The 14-day Relative Strength Index (RSI) is reaching overbought levels, indicating considerable buying interest yet potentially flashing signs of exhaustion if the rally is not paused. Key levels of support have moved higher, showing strong demand on dips. While near-term resistance is observed around the $3,250 psychological level, a decisive break above this level may spur a new round of buying demand. On the downside, any corrective falls are set to find support around $3,200 and lower still at the 21-day Simple Moving Average (SMA), which means the general trend is still very much in favor of bulls unless the levels are broken convincingly. FORECAST Gold is set to continue its rally in the near term courtesy of a combination of factors such as geopolitical tensions, the weakening US Dollar, and anticipated Federal Reserve rate reductions. If macroeconomic sentiment remains unclear and inflation keeps declining, gold may experience more investment inflows in search of shelter. A break above the psychological $3,250 level can pave the way for more advances, with the $3,300 level seeming like a reasonable medium-term objective. Ongoing safe-haven demand and global risk aversion might maintain pressure on the metal to rise. In spite of the powerful momentum, gold is subject to potential downside risk if any sudden pickup in US-China trade tensions or a better-than-anticipated recovery in US economic data were to occur. This would potentially lift the US Dollar and lower the chances of aggressive Fed rate cuts, both of which could become bearish for gold prices. On the other hand, if the ongoing rally is followed by profit-taking or technical indicators signal signs of being overbought, a short-term correction to $3,200 or even $3,000 cannot be eliminated. But such dips can be interpreted as buying opportunities, provided the overall economic situation remains weak.

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