Range-bound between 3,265–3,345 USD. Price has been oscillating in this box for the past week, with the upper edge at ~3,345 acting as resistance and the lower edge at ~3,265 as support.
RSI ~53 – smack in neutral territory, indicating no pronounced overbought/oversold condition.
Fundamental Triggers
Federal Reserve (FOMC) Meeting, May 1–2
Markets will parse the dot-plot and accompanying statement for hawkish/dovish bias. A hawkish tilt = USD strength → gold under pressure.
U.S. Macro Data
CPI Inflation & Non-Farm Payrolls (NFP) due mid-May.
Cooler CPI or soft NFP → bond yields fall → gold becomes more attractive.
Treasury Yields & Dollar Index
A resurgent DXY and rising real yields remain headwinds for non-yielding gold.
Geopolitical Factors
Middle East Tensions (Gaza/Yemen → safe-haven flows).
U.S.–China Trade/Tech Rivalry (tariff chatter or export controls).
Russia–West Relations (additional sanctions could spur metal demand).
Any escalation here tends to underpin bids around the lower range (3,265 USD) as traders rotate into safe-haven assets.
Suggested Trade Scenarios
Bullish Breakout
Entry: on a clear close above 3,345 USD
Stop-loss: just below breakout level (e.g. 3,335)
Targets: 3,400 USD → 3,470 USD
Range Re-test
Entry: long near 3,270–3,265 USD support
Stop-loss: below 3,260
Profit-taking: mid-range (3,315) then upper bound (3,345)
Bearish Breakdown
Entry: on decisively closing below 3,265 USD
Stop-loss: just above 3,275
Targets: 3,230 USD → 3,153 USD
🔹 Keep an eye on the Fed commentary and U.S. data releases for volatility spikes.
🔹 Always use disciplined risk management: adjust position size and stop-losses to your own plan.
🔹 Watch geopolitical headlines—safe-haven flows can override technicals in a flash.
Good luck and clear skies on your charts!
RSI ~53 – smack in neutral territory, indicating no pronounced overbought/oversold condition.
Fundamental Triggers
Federal Reserve (FOMC) Meeting, May 1–2
Markets will parse the dot-plot and accompanying statement for hawkish/dovish bias. A hawkish tilt = USD strength → gold under pressure.
U.S. Macro Data
CPI Inflation & Non-Farm Payrolls (NFP) due mid-May.
Cooler CPI or soft NFP → bond yields fall → gold becomes more attractive.
Treasury Yields & Dollar Index
A resurgent DXY and rising real yields remain headwinds for non-yielding gold.
Geopolitical Factors
Middle East Tensions (Gaza/Yemen → safe-haven flows).
U.S.–China Trade/Tech Rivalry (tariff chatter or export controls).
Russia–West Relations (additional sanctions could spur metal demand).
Any escalation here tends to underpin bids around the lower range (3,265 USD) as traders rotate into safe-haven assets.
Suggested Trade Scenarios
Bullish Breakout
Entry: on a clear close above 3,345 USD
Stop-loss: just below breakout level (e.g. 3,335)
Targets: 3,400 USD → 3,470 USD
Range Re-test
Entry: long near 3,270–3,265 USD support
Stop-loss: below 3,260
Profit-taking: mid-range (3,315) then upper bound (3,345)
Bearish Breakdown
Entry: on decisively closing below 3,265 USD
Stop-loss: just above 3,275
Targets: 3,230 USD → 3,153 USD
🔹 Keep an eye on the Fed commentary and U.S. data releases for volatility spikes.
🔹 Always use disciplined risk management: adjust position size and stop-losses to your own plan.
🔹 Watch geopolitical headlines—safe-haven flows can override technicals in a flash.
Good luck and clear skies on your charts!
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.
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.