empty
24.04.2025 11:33 AM
XAU/USD. Analysis and Forecast

This image is no longer relevant

Gold is showing positive momentum as it attempts to hold above the $3300 level, indicating growing investor interest in this traditional safe-haven asset.

The uncertainty surrounding U.S.-China trade relations—highlighted by yesterday's comments from U.S. Treasury Secretary Scott Bessent—suggests that the current standoff may last longer than initially expected. Additionally, potential consequences of Donald Trump's tariff policies are creating a backdrop of elevated demand for gold.

The Federal Reserve's Beige Book points to rising uncertainty in the economy due to shifting tariffs, which could limit further dollar gains in the coming months. Mixed data on consumer spending and signs of cooling in the labor market are also contributing to a more cautious outlook. The weakening U.S. dollar and expectations of more aggressive easing from the Fed continue to support precious metal prices.

At the same time, lingering hopes for a potential trade deal between the U.S. and China are helping to sustain a degree of market optimism, which may cap gold's upside in the near term.

Technical Outlook:

  • $3370 is emerging as a key resistance level. A sustained breakout above it would open the door to higher targets, including $3400, followed by stronger resistance at $3425, and the broader target at $3500 would remain in play.
  • However, if gold falls below $3300, this may signal a potential pullback. The first major support lies at $3260, and a break below this level would be critical, paving the way for further downside toward $3250 and possibly the key psychological level of $3200.

Still, with oscillators on the daily chart holding firmly in positive territory, the broader path of least resistance for gold remains upward.

Irina Yanina,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD: Bank of England Cuts Rates, Trump Signs Trade Deal with London

On Thursday, the Bank of England delivered a widely expected 25 basis point interest rate cut, and Donald Trump announced the conclusion of a trade agreement with the United Kingdom

Irina Manzenko 00:28 2025-05-09 UTC+2

The Dollar Shot Itself in the Foot

As the first week of May comes to a close, a true spring has arrived on the financial markets. Global risk appetite is surging amid the imminent launch of U.S.-China

Marek Petkovich 00:28 2025-05-09 UTC+2

EUR/USD. Analysis and Forecast

On Thursday, the EUR/USD pair is falling below the psychological level of 1.1300. The election of Friedrich Merz as Chancellor of Germany reduces uncertainty regarding the economic strength

Irina Yanina 11:12 2025-05-08 UTC+2

The Market Will Save Itself

The Fed is no longer the center of the financial universe, and the S&P 500's 13% rally from April lows has once again made U.S. equities expensive. That sums

Marek Petkovich 10:13 2025-05-08 UTC+2

Fed's Rate Hold and US-China Talks Support the Dollar (High Likelihood of EUR/USD and Gold Declines)

The Federal Reserve remained firm, with its leadership reaffirming a steadfast wait-and-see approach. Interestingly, the Fed did not respond to notable changes in the economy, citing heightened uncertainty

Pati Gani 09:53 2025-05-08 UTC+2

The Bank of England Is Ready to Cut Rates

The Bank of England is expected to cut interest rates by a quarter of a percentage point today and signal that another reduction is likely in June. This could potentially

Jakub Novak 09:21 2025-05-08 UTC+2

Why Gold Dropped Sharply After the Fed Meeting

Gold experienced a slight uptick following the Federal Reserve's meeting, where interest rates were kept unchanged and Fed Chair Jerome Powell stated that the central bank is in no rush

Jakub Novak 09:17 2025-05-08 UTC+2

FOMC Meeting Results

The euro and British pound resumed their decline against the US dollar following the release of the Federal Reserve meeting results; however, the drop was not significant, and the future

Jakub Novak 09:15 2025-05-08 UTC+2

What to Pay Attention to on May 8? A Breakdown of Fundamental Events for Beginners

Very few macroeconomic events are scheduled for Thursday, and none are significant. Germany will release its industrial production report for March, and the U.S. will publish weekly jobless claims. These

Paolo Greco 06:05 2025-05-08 UTC+2

GBP/USD Overview – May 8: The Tesla Crisis as the Apex of Trump's Policy

The GBP/USD currency pair traded relatively calmly for most of Wednesday despite the evening FOMC meeting. As per our usual approach, we won't be analyzing the results of that meeting

Paolo Greco 03:39 2025-05-08 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.