GOLD may enter accumulation when the market lacks impact
Spot 
XAUUSD prices were broadly steady in Asian trade on Friday (April 25) after a sharp rise in the previous trading day. The current price of gold is around $3,341/ounce, down from the $3,371 price target that readers noted in yesterday's edition. Spot gold prices jumped on Thursday, snapping a nearly 3% decline the previous day, helped by a weaker US dollar and bargain-hunting as investors kept a close eye on the latest news on tariff negotiations.
Market Highlights
Gold prices rebounded on Thursday after their biggest drop this year as bargain hunters entered the market, Bloomberg reported.
China's official broadcaster CCTV reported Thursday that the Wall Street Journal reported that Trump is considering a plan to impose tiered tariffs on China, and White House press secretary Levitt said Trump's stance on tariffs on China "has not softened."
"This is all fake news. As far as I know, China and the United States have never consulted or negotiated on tariffs, let alone reached an agreement. This tariff war was initiated by the United States, and China's attitude is consistent and clear: if you want to fight, we will fight to the end; if you want to negotiate, the door is open. Dialogue and negotiation must be equal, respectful and mutually beneficial," said Chinese Foreign Ministry spokesman Guo Jiakun.
Cleveland Fed President Hammack made it clear in an interview on Thursday that the Fed has essentially ruled out a rate cut in May. But she also delivered a key message, saying that if there is clear evidence of the economy’s direction, there will be room for policy action in June.
When asked if a rate cut was possible in June, Hammack said: “If we get clear and compelling data in June, then I think the committee will act, assuming we have a clear understanding of the right path for policy at that point.” Markets reacted quickly after Hammack’s remarks, with interest rate swaps indicating the likelihood of a rate cut by the Federal Reserve in June rising to around 65%.
Technical Outlook AnalysisXAUUSD
After achieving the target increase twice, which readers should pay attention to in the previous day's publication at 3,371 USD, the price point of the Fibonacci retracement of 0.236%, the recovery momentum of gold is being controlled and limited.
In the short term, gold is likely to enter a sideways accumulation phase, waiting for more fundamental breakthroughs. The expected accumulation area is around 3,371 - 3,292 USD, which are the positions of the Fibonacci retracement of 0.236% and 0.382%.
However, with the current position, the main outlook is still bullish in the long term with the trend from the price channel as the main trend and support from the EMA21 as the main support.
During the day, the expectation of short-term accumulation in the main uptrend will be noted by the following levels.
Support: 3,300 – 3,292 USD
Resistance: 3,371 USD
SELL XAUUSD PRICE 3411 - 3409⚡️
↠↠ Stop Loss 3415
→Take Profit 1 3403
↨
→Take Profit 2 3397
BUY XAUUSD PRICE 3204 - 3206⚡️
↠↠ Stop Loss 3200
→Take Profit 1 3212
↨
→Take Profit 2 3218
XAUUSD prices were broadly steady in Asian trade on Friday (April 25) after a sharp rise in the previous trading day. The current price of gold is around $3,341/ounce, down from the $3,371 price target that readers noted in yesterday's edition. Spot gold prices jumped on Thursday, snapping a nearly 3% decline the previous day, helped by a weaker US dollar and bargain-hunting as investors kept a close eye on the latest news on tariff negotiations.Market Highlights
Gold prices rebounded on Thursday after their biggest drop this year as bargain hunters entered the market, Bloomberg reported.
China's official broadcaster CCTV reported Thursday that the Wall Street Journal reported that Trump is considering a plan to impose tiered tariffs on China, and White House press secretary Levitt said Trump's stance on tariffs on China "has not softened."
"This is all fake news. As far as I know, China and the United States have never consulted or negotiated on tariffs, let alone reached an agreement. This tariff war was initiated by the United States, and China's attitude is consistent and clear: if you want to fight, we will fight to the end; if you want to negotiate, the door is open. Dialogue and negotiation must be equal, respectful and mutually beneficial," said Chinese Foreign Ministry spokesman Guo Jiakun.
Cleveland Fed President Hammack made it clear in an interview on Thursday that the Fed has essentially ruled out a rate cut in May. But she also delivered a key message, saying that if there is clear evidence of the economy’s direction, there will be room for policy action in June.
When asked if a rate cut was possible in June, Hammack said: “If we get clear and compelling data in June, then I think the committee will act, assuming we have a clear understanding of the right path for policy at that point.” Markets reacted quickly after Hammack’s remarks, with interest rate swaps indicating the likelihood of a rate cut by the Federal Reserve in June rising to around 65%.
Technical Outlook Analysis
XAUUSD After achieving the target increase twice, which readers should pay attention to in the previous day's publication at 3,371 USD, the price point of the Fibonacci retracement of 0.236%, the recovery momentum of gold is being controlled and limited.
In the short term, gold is likely to enter a sideways accumulation phase, waiting for more fundamental breakthroughs. The expected accumulation area is around 3,371 - 3,292 USD, which are the positions of the Fibonacci retracement of 0.236% and 0.382%.
However, with the current position, the main outlook is still bullish in the long term with the trend from the price channel as the main trend and support from the EMA21 as the main support.
During the day, the expectation of short-term accumulation in the main uptrend will be noted by the following levels.
Support: 3,300 – 3,292 USD
Resistance: 3,371 USD
SELL XAUUSD PRICE 3411 - 3409⚡️
↠↠ Stop Loss 3415
→Take Profit 1 3403
↨
→Take Profit 2 3397
BUY XAUUSD PRICE 3204 - 3206⚡️
↠↠ Stop Loss 3200
→Take Profit 1 3212
↨
→Take Profit 2 3218
Note
🔴Gold has fallen sharply and is now back below $3,290 per ounce, down 1.77% on the day.Note
🔴SPOT gold fell below $3,270 an ounce, down 2.37% on the day.Spot silver fell below $33 an ounce, down 1.68% on the day.Note
Gold prices are now becoming more unpredictable as the precious metal could sell off if long-term investment flows shift to other safe havens such as short-term Treasury bonds. However, when gold prices fell below the $3,300/ounce mark, strong bottom-fishing demand helped gold prices recover.Note
Note
🔴Gold SPOT Loses $3,270Gold SPOT continued to sink, falling below $3,270 per ounce, down 1.50% on the day.
Note
🔴SPOT gold fell below $3,330 an ounce, down 0.43% on the day.Note
▫️SPOT Gold opened essentially flat on Wednesday, currently at $3,309 per ounce.Note
🔴After the PCE data was released, Gold fell $12 and is now at $3305.17 per ounce.Trade closed: target reached
Plan BUY Hit Full TP2 + 140pips🤕🤕🤕. Congratulations everyoneNote
Ukrainian UAV attacks Moscow ahead of Victory Day Parade escalate geopolitical risks, bolstering gold's rally.Note
The possibility of gold rising to $5,000 would increase expectations for Bitcoin, with historical trends suggesting BTC price will rise to $155,000 or higher if conditions are right.Note
🔴Gold SPOT has briefly surged higher by nearly $15 and is currently at $3,380 per ounce.Note
China increased its gold reserves for the sixth consecutive month in April, highlighting its strategic move to increase its accumulation of the precious metal amid record gold prices and ongoing trade tensions.Note
🔴Gold Spot fell $9, back below $3,300 an ounce, down 0.24% on the day.
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🔰| Forex trading
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.