Fundamental analysis
Gold is hovering around 3,330 per ounce on Thursday, rebounding after a two-day pullback as a softer dollar attracted bargain hunters.
Treasury Secretary Scott Bessent emphasized the need to roll back US - China tariffs for progress in talks, a stance echoed by President Trump’s decision to exempt automakers from some duties, briefly easing trade tensions.
These developments, amid lingering uncertainty in US - China relations, have boosted safe-haven demand and reinforced gold's upward momentum.
Technical analysis
XAUUSD bounced back from 3,260 after pulling back from its all-time high. The overall uptrend remains intact, marked by higher highs and no break in market structure.
If bullish momentum continues and the price closes above the EMA21, the price could test the next resistance at 3,500.
However, a drop below 3,260 may trigger further downside toward the next support level at around 3,200.
By María Agustina Patti, Financial Markets Strategist at Exness
Gold is hovering around 3,330 per ounce on Thursday, rebounding after a two-day pullback as a softer dollar attracted bargain hunters.
Treasury Secretary Scott Bessent emphasized the need to roll back US - China tariffs for progress in talks, a stance echoed by President Trump’s decision to exempt automakers from some duties, briefly easing trade tensions.
These developments, amid lingering uncertainty in US - China relations, have boosted safe-haven demand and reinforced gold's upward momentum.
Technical analysis
XAUUSD bounced back from 3,260 after pulling back from its all-time high. The overall uptrend remains intact, marked by higher highs and no break in market structure.
If bullish momentum continues and the price closes above the EMA21, the price could test the next resistance at 3,500.
However, a drop below 3,260 may trigger further downside toward the next support level at around 3,200.
By María Agustina Patti, Financial Markets Strategist at Exness
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.