EZIO-FX

Gold steadies after setting a fresh all-time high near $3,871 on Tuesday. US shutdown fears rise after White House talks fail to reach a deal. US data failed to boost the Greenback, as weaker Consumer Sentiment offset a modest uptick in Job Openings. Gold (XAU/USD) trims earlier losses on Tuesday, trading around $3,848 at the time of writing. The metal is clawing back gains after sliding from its fresh all-time high near $3,871 to the $3,800 zone, as buyers stepped back in following the release of weaker US Consumer Confidence data. The underlying bid for Bullion remains intact, supported by investor demand for safe havens amid the growing risk of a United States (US) government shutdown, should lawmakers fail to strike a funding deal before Tuesday at midnight. At the same time, ongoing geopolitical frictions continue to underpin Gold’s appeal as a go-to safe-haven asset, while renewed US tariffs stir concerns over global trade, reinforcing demand for the yellow metal as a hedge against uncertainty.

Gold trades lower on Thursday as the US Dollar strength weighs. The Fed delivered its first rate cut since December, lowering the federal funds rate to the 4.00%-4.25 range. The Fed's updated dot plot signaled scope for two more cuts in 2025. Gold (XAU/USD) extends losses on Thursday after a sharp reversal following the Federal Reserve’s (Fed) interest rate decision. The metal briefly spiked to a fresh all-time high near $3,707 in the immediate aftermath of the widely expected 25-basis-point (bps) rate cut on Wednesday, but gains quickly faded as the outcome had already been largely priced in. At the time of writing, XAU/USD is edging lower, reversing after trading in positive territory earlier in the day. The metal is trading around $3,735 during the American session, down nearly 0.80% on the day, weighed down by renewed strength in the US Dollar.

GOLD all time high level 3,500. Gold has surged above the top of its months-long ascending triangle, confirming a bullish breakout and signaling further upside. Momentum indicators remain supportive as prices near April’s $3500 peak, with $3575–$3600 the next key targets, Société Générale's FX analysts note. Uptrend resumes as Gold clears key resistance "Gold has broken above the upper boundary of the ascending triangle within which it consolidated since April, signaling a resumption of the uptrend. The daily MACD remains in positive territory and above its trigger line, indicating renewed upward momentum." "Gold is now approaching the April high of $3500. Should a brief pullback occur, the upper end of the recent range near $3450 is likely to serve as initial support. Beyond $3500, the next upside projections are at $3575/3600 and $3650."

What a great bullish Flag Gold went up. Gold tests new highs as traders focus on weak dollar and bet on dovish Fed. Worries about Fed independence provide additional support to gold markets. A successful test of the resistance at $3440 – $3450 will open the way to the test of the next resistance level at $3490 – $3500.