Gold Drops Amid Improved Risk Sentiment – Watch 3347 for Reversal
Gold remains under bearish pressure despite recent attempts to stabilize, as global sentiment improves following President Trump’s softened tone on Federal Reserve Chair Powell and China trade relations.
His comments easing concerns about the Fed’s independence and signaling openness to dialogue with China have reduced safe-haven demand, which continues to weigh on gold prices.
Technically, gold has dropped significantly from its recent highs, now hovering around 3,327, below the pivot level at 3,347.
As long as the price remains below this zone, the bearish momentum is expected to continue, with the next key target at 3,307, and a 1H candle close below 3,307 would likely extend the drop toward 3,240 and 3,193, as shown on the chart. On the flip side, any move back above 3,347 could trigger a recovery toward 3,376 and 3,404, but for now, the pressure remains on the downside.
With geopolitical headlines still influencing the markets, volatility is expected to stay high, so traders should remain cautious and watch for any sudden shifts in tone from major political players.
• Bearish Below 3347 → 3307 & 3240
• Bullish Above 3347 → 3376 & 3404
• Range 3347 - 3307
Gold remains under bearish pressure despite recent attempts to stabilize, as global sentiment improves following President Trump’s softened tone on Federal Reserve Chair Powell and China trade relations.
His comments easing concerns about the Fed’s independence and signaling openness to dialogue with China have reduced safe-haven demand, which continues to weigh on gold prices.
Technically, gold has dropped significantly from its recent highs, now hovering around 3,327, below the pivot level at 3,347.
As long as the price remains below this zone, the bearish momentum is expected to continue, with the next key target at 3,307, and a 1H candle close below 3,307 would likely extend the drop toward 3,240 and 3,193, as shown on the chart. On the flip side, any move back above 3,347 could trigger a recovery toward 3,376 and 3,404, but for now, the pressure remains on the downside.
With geopolitical headlines still influencing the markets, volatility is expected to stay high, so traders should remain cautious and watch for any sudden shifts in tone from major political players.
• Bearish Below 3347 → 3307 & 3240
• Bullish Above 3347 → 3376 & 3404
• Range 3347 - 3307
~6 analyses per day. With a clear Entry, Target, and stop-out Point
more than 2000 pip per week → Accuracy +90%
~4 signals per day More than 1000 pip Per Wekk → Accuracy +88%
SM News ⚡️:
t.me/SM_News_24h
sroshmayi.com
more than 2000 pip per week → Accuracy +90%
~4 signals per day More than 1000 pip Per Wekk → Accuracy +88%
SM News ⚡️:
t.me/SM_News_24h
sroshmayi.com
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.
~6 analyses per day. With a clear Entry, Target, and stop-out Point
more than 2000 pip per week → Accuracy +90%
~4 signals per day More than 1000 pip Per Wekk → Accuracy +88%
SM News ⚡️:
t.me/SM_News_24h
sroshmayi.com
more than 2000 pip per week → Accuracy +90%
~4 signals per day More than 1000 pip Per Wekk → Accuracy +88%
SM News ⚡️:
t.me/SM_News_24h
sroshmayi.com
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.