softt_inc

As the European session begins on Wednesday, the price of gold (XAU/USD) maintains its downward trend below the $2,900 mark, despite the absence of follow-through selling and its continued proximity to the all-time high reached the day before. The hawkish comments made by Federal Reserve (Fed) Chair Jerome Powell on Tuesday further depress the non-yielding yellow metal and draw some purchasers to the US Dollar (USD). In addition, a positive risk attitude encourages some profit-taking for the second day in a row. Investors are still worried about the possible economic effects of a global trade war and US President Donald Trump's trade tariffs. Furthermore, geopolitical worries are still driving the price of gold, which is a safe haven. Additionally, traders were hesitant to make large wagers and instead chose to hold off until later today, when the most recent US consumer inflation data is released. As a result, bearish traders should exercise caution until it is confirmed that the XAU/USD's long-standing upward trend has petered out. Technically speaking, the yellow metal has been declining due to overbought conditions. Any more decline, however, might still be viewed as a buying opportunity and would be restricted to the $2,855-2,850 range. Support around the $2,835 region, which is close to the 4-hour EMA, comes next. If it is broken, this might push the XAU/USD closer to the $2,800 level. Conversely, bulls may now hold off on making new wagers until they see a rise back above the $2,900 immediate hurdle. The gold price may return to the $2,942-2,943 range or the all-time high reached on Tuesday as a result of the ensuing increase. An extension of the recent, well-established upswing that has been observed over the last two months or so would be made possible by some follow-through buying.

Wednesday's first half of the European session saw the gold price (XAU/USD) maintain its bullish bias for the third day in a row, trading close to its highest level since November 1. One of the main reasons why haven flows into the precious metal are still occurring is the uncertainty surrounding US President Donald Trump's trade policy. In addition, the non-yielding yellow metal is supported by the anticipation that the Federal Reserve (Fed) will lower interest rates twice this year. However, the positive market sentiment, rising US Treasury bond yields, and a slight recovery of the US dollar (USD) from a two-week low all work against the price of gold. Nevertheless, the fundamental background remains balanced solidly in favor of optimistic traders and supports expectations for an extension of the XAU/USD positive trend experienced over the previous month or so. Therefore, any significant corrective decline may still be viewed as a buying opportunity and is probably going to stay small. Technically speaking, bullish traders viewed the overnight breakout of the $2,745 Resistant zone as a new trigger. Future gains should be possible if the price continues to rise beyond the $2,770 barrier. The price of gold may then try to challenge the record high, which was reached in October 2024 at a level of $2,790. Conversely, any corrective reversal might now be viewed as a buying opportunity and would stay restricted around the $2,745–$2,725 range. The next significant support is located close to the $2,700 pivot point; if it is decisively broken, this could lead to intense technical selling and push the price of gold to the $2,650 region before reaching the $2,625 level, where the daily EMA 72 would act as further support.

Today, the price of gold (XAU/USD) is trading at $2,735 and is almost stable for the day after recovering a significant portion of its losses from the Asian session to a low of more than one week. The demand for safe haven assets resulting from the fiercely disputed US presidential election and the possibility of a further escalation of Middle Eastern geopolitical tensions continues to provide some support for the precious metal. In the meantime, US Treasury bond yields continue to drop as a result of the "Trump trade" being unwound and speculation that the Fed would further cut interest rates in the face of a weakening labor market. This helps to limit the downside for the non-yielding gold price and does not help the US Dollar (USD) build on the overnight recovery from a two-week low. Technical Outlook: Technically speaking, the pullback from the all-time high and the failure last week close to the upper boundary of an ascending channel that began in late July could be interpreted as an indication of bullish exhaustion. As a result, any more decrease is more likely to encounter some support in the $2,720–2,715 horizontal zone. Below this, the price of gold may attempt to test the trend-channel support, which is presently situated close to the psychological level in the $2,700 area. On the other hand, the $2,745-2,750 range currently appears to be an impending barrier before the $2,790 range or the record high that was reached last Thursday. The psychological level at $2,800 and the rising channel resistance, which is located in the $2,815 zone, come next. The gold price can continue its recent, well-established rise if it maintains strength above the latter, which optimistic traders would view as a new trigger.

Wednesday saw the gold price (XAU/USD) rise for the second day in a row, as it reached a one-and-a-half-week high in the $2,670 range during the Asian session. In light of the current Middle East wars and other geopolitical uncertainties, the risk-off impulse is viewed as a crucial element providing some support to the safe-haven precious metal. The price of gold is not given much of a boost by the US Dollar (USD), which is consolidating its recent strong gains to a height that has been above two months. However, any significant USD corrective slide should be constrained by growing expectations for a less aggressive policy easing by the Fed and wagers on a normal 25 basis point (bps) rate cut in November. Before making bullish wagers on the non-yielding yellow metal, this calls for prudence. Technical Outlook: Bullish potential is intact. Technically speaking, any further increase is probably going to run into some resistance close to the $2,685 area or the record high reached in September. Next in line is the $2,700 psychological level. However, short-term support is located close to the $2,650 mark, below which the price of gold may drop to the $2,641 mark, which is around the 4-hour 72 EMA. Further declines are likely to draw some buyers and keep the price close to the $2,600 psychological level. If the latter is clearly violated, it might serve as a crucial turning point that triggers technical selling and opens the door to further losses.

Tuesday's gold price (XAU/USD) draws buyers for the fourth day in a row and reaches a new all-time high in the $2,640 range during the Asian session. After a massive rate cut last week, expectations for a more aggressive policy easing by the Federal Reserve (Fed) do not help the US Dollar (USD) draw significant buyers or serve as a tailwind for the non-yielding yellow metal. Aside from this, the safe-haven Gold price is supported by enduring geopolitical uncertainties resulting from the ongoing conflicts in the Middle East, as well as concerns about an economic downturn and political unpredictability in the US. However, the upside appears constrained in advance of Friday's release of the US Personal Consumption Expenditures (PCE) Price Index and speeches by important FOMC members. Technical Analysis: Bulls should exercise caution because the price of gold is marginally overbought. Technically speaking, the most recent breakout and acceptance above the $2,600 barrier may serve as a new catalyst for traders who are bullish. However, the daily chart's 72 EMA is much below the price and should be regarded with caution. It will therefore be wise to hold off on positioning for the following leg of a move-up until there has been some short-term consolidation or a slight retracement. Any correction slip, however, is probably going to draw new buyers close to $2,600, below which the price of gold may fall to the $2,560 horizontal zone. Prior to the psychological $2,500 barrier, the next significant support is located close to the resistance breakpoint between $2,532 - 2,530. A strong breakdown below the latter might cause the short-term bias to change in favor of sellers and open the door for some significant downside.

On Wednesday, gold (XAU/USD) trades at slightly over $2,500 after declining as a result of the US Dollar's (USD) recovery. Since gold is primarily valued in US dollars, any increase in the value of the US dollar tends to affect the price of gold. The US Dollar Index (DXY), which had struck year-to-date lows of 100.51 the day before, has recovered to rise more than three-quarters of a percent on Wednesday in the 100.90s. Tuesday's US data was mixed. The Conference Board's measure of consumer confidence for August increased to 103.3, above the predicted level of 100.7. Additional evidence refuting the notion of a hard landing for the US economy came from the optimism expressed by US consumers. However, according to Jim Reid, a strategist at Deutsche Bank, labor market indicators "fell to their weakest levels so far in this cycle, which supported concerns about the recent slowdown in the labor market." Technical Analysis: Gold falls back after retesting the $2,530 highs Gold (XAU/USD) is reverting to its previous level after retesting it at $2,530. All in all, it's still bullish because the market may rise further higher following a retest of the channel. Gold is still in an uptrend for the short term, which is advantageous for longs over shorts because of the adage "the trend is your friend." On the other hand, the upside projected target would be nullified by a break back inside the channel. It would cast doubt on the short-term upswing and alter the outlook for Gold. On medium and long term time frames, however, gold is in an uptrend, adding validity to the general positive outlook for the precious metal.

On Monday, the gold price (XAU/USD) is trading close to the psychological support level of $2,500 with minor losses. On the other hand, there is growing anticipation that the US Federal Reserve (Fed) would start cutting interest rates in September, which could limit the precious metal's decline. Since owning an interest-bearing asset has less opportunity cost, lower interest rates are generally favorable for gold. Technical Analysis: Gold price continues its long-term bullish momentum The price of gold is rising during the day. The precious metal has been trading just above the rising trend channel that has been there for five months. But as long as the yellow metal stays above the important 72-day Exponential Moving Average (EMA) on the daily chart, the general bullish atmosphere for the metal holds. Gold may rise to the $2,530–$2535 area if it prints a few more bullish candlesticks. A clear break over this mark would attract further buyers, allowing the price to rise all the way to the psychological $2,600 barrier. On the other hand, the low of August 22 ($2,477.7) is the first level of support. More bearish candlesticks below the indicated level in XAU/USD could attract enough sellers to push the price down to $2,432, the August 15 low. The 72-day EMA, or $2,393 zone, represents the critical level of dispute.

For the second day in a row, there is some selling pressure on the gold price (XAU/USD), which on Wednesday in the Asian session hits a low of more than a week. In light of the US economy, remarks made on Tuesday by Federal Reserve (Fed) Governors Michelle Bowman and Lisa Cook indicated that the central bank is unlikely to begin its cycle of rate reductions very soon. The US Dollar (USD) gains momentum and the non-yielding yellow metal is weakened by the little increase in US Treasury bond yields brought about by the hawkish outlook. Technically speaking, traders who are bearish are favored by the recent inability to profit from the strength that continued below the 72- H4 EMA and the subsequent decline. Prior to setting for any losses, it will still be smart to wait for a retest of the break of the short-term ascending trendline that is now serving as resistance, which is currently pegged near the $2,322 area. After that, it's possible for the XAU/USD to drop even lower than $2,300 and test the monthly swing low, which is located in the $2,287–2,286 range. Conversely, it appears that any significant upswing will encounter significant resistance close to the 72-H4 EMA, which is presently located in the $2,330–2,342 area. This is in advance of Friday's swing high, around $2,368–2,369 range. Should the price of gold continue to rise above this level, it may move up toward the $2,387–2,388 midpoint and eventually reach the $2,400 psychological level.

Early on Monday during Asian trading hours, gold prices (XAU/USD) surged to a record high above $2,440. Renewed expectations of US Federal Reserve (Fed) interest rate cuts are a major factor supporting the bullish movement of the precious metal. Traders had priced in almost two quarter-point reductions from the Fed this year, with November most likely serving as the launchpad. Gold traders will be watching the Federal Reserve's (Fed) speeches later on Monday, particularly those by Bostic, Barr, Waller, Jefferson, and Mester, as they may provide some guidance on the direction of monetary policy in the future. The potential gains for precious metals may be restricted by the Fed's cautious stance or hawkish remarks. Technical Analysis: The gold price maintains its bullish position. Gold breaks through the previous high it has formed since April 12. Technically, because the precious metal is above the 72 moving average, the positive outlook remains intact on the four-hour chart. For XAU/USD, the all-time high of $2,440 serves as an immediate resistance level. A clear break above this level will trigger a rally towards the psychological $2,500 level, which may act as an upside hurdle. On the reverse side, the first target on the precious metal's downside will be the resistance level that has turned into a support level at $2,415. There is a low at $2,380 and a critical conflict level at the psychological level of $2,400.

The increase in U.S. Treasury yields and the strength of the US dollar caused gold prices (XAU/USD) to drop last week, dropping roughly 1.05% to $2,155. The precious metal has maintained a strong bullish momentum despite this setback, as evidenced by its performance in March thus far, which has resulted in a gain of about 5.5% and led to recent all-time highs. Gold prices dropped last week, they were able to hold above the EMA 72 support at $2,150. Bulls need to actively guard this technical zone to avoid selling pressure building up, as failing to do so could lead to a decline towards $2,085. Conversely, if buyers take back control of the market and initiate a bullish reversal from the metal's current position, the main barrier is the record peak set earlier this month at $2,195