📊 Market Overview:
Gold prices retreated slightly as stronger-than-expected U.S. consumer confidence data boosted expectations that the Federal Reserve may keep interest rates elevated for an extended period. This lent strength to the U.S. dollar, weighing on gold. Meanwhile, a more stable geopolitical tone—particularly in U.S.-EU trade discussions—has reduced safe-haven flows into gold.
📉 Technical Analysis:
• Key Resistance: $3,345 – $3,355
• Nearest Support: $3,270 – $3,280
📌 Outlook:
Gold may remain under pressure in the short term if the U.S. dollar stays firm and the Fed’s hawkish stance persists. However, the $3,270 support zone remains a key pivot for any potential rebound.
💡 Suggested Trading Strategy:
SELL XAU/USD at: $3,345 - $3,350
🎯 TP: $3,325
❌ SL: $3,355
BUY XAU/USD at: $3,270 – $3,280
🎯 TP: $3,290
❌ SL: $3,260
Gold prices retreated slightly as stronger-than-expected U.S. consumer confidence data boosted expectations that the Federal Reserve may keep interest rates elevated for an extended period. This lent strength to the U.S. dollar, weighing on gold. Meanwhile, a more stable geopolitical tone—particularly in U.S.-EU trade discussions—has reduced safe-haven flows into gold.
📉 Technical Analysis:
• Key Resistance: $3,345 – $3,355
• Nearest Support: $3,270 – $3,280
📌 Outlook:
Gold may remain under pressure in the short term if the U.S. dollar stays firm and the Fed’s hawkish stance persists. However, the $3,270 support zone remains a key pivot for any potential rebound.
💡 Suggested Trading Strategy:
SELL XAU/USD at: $3,345 - $3,350
🎯 TP: $3,325
❌ SL: $3,355
BUY XAU/USD at: $3,270 – $3,280
🎯 TP: $3,290
❌ SL: $3,260
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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.
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.