Today’s Gold Analysis Overview:
- The overall of Gold Trend: Strongly Bullish.
- Today’s Gold Support Points: $4170 – $4100 – $4050 per ounce.
- Today’s Gold Resistance Points: $4260 – $4330 – $4400 per ounce.
Today’s Gold Trading Signals:
- Sell Gold from the resistance level of $4300. Target $4060, Stop-Loss $4360.
- Buy Gold from the support level of $4140. Target $4300, Stop-Loss $4100.
Technical Analysis of Gold Price (XAU/USD) Today:
After strong gains at the start of the week, the gold index experienced profit-taking yesterday amidst improved risk appetite among traders and investors in the market in general. Starting from the resistance level of $4236 per ounce, gold prices fell to the support level of $4164 per ounce, reaching a high of $4265 per ounce at the beginning of the week’s trading.
Currently, according to gold trading platforms, the price of the yellow metal is attempting to return to stabilization above the $4220 per ounce resistance to gain positive technical momentum for gold bulls to target record bullish breakouts again.
The daily chart indicators confirm the stability of the ascending trend line for gold. The 14-day Relative Strength Index (RSI) is stabilizing around a reading of 61, close to the overbought line of 70, and at the same time, the MACD indicator remains on its upward path. Conversely, over the same time frame, the $4000 per ounce level remains an important separator between bears and bulls controlling the trend. Overall the strategy of buying gold on every sharp price pullback remains valid and can be implemented in the coming days.
Trading Tips:
The bullish trend for gold is continuous and may persist for a longer period, so always focus on investing in gold and never take excessive risks, regardless of the strength of the trading positions.
Will gold prices rise in the coming days?
According to gold analysts’ forecasts, the stronger path for gold prices is upward, and the factors contributing to its gains continue. These include voracious global central bank purchases of gold tons to hedge against global trade and geopolitical tensions, which supports buying gold as a safe haven. This is coupled with US dollar weakness and the trend of central banks moving toward monetary easing.
Recently, global bond markets witnessed some tension due to political, financial, and economic concerns related to Japan. Japanese government bonds remained under the spotlight after hawkish statements from the Bank of Japan Governor on Monday. In trading, the 30-year Treasury yield hit a record high during the day, but benchmark borrowing costs ended the day lower following a well-received bond auction.
Global Economy Improving Better Than Expected
The Organization for Economic Cooperation and Development (OECD), a Paris-based research institution, reported that the global economy is holding up better than anticipated against US and other tariffs, thanks to strong investment in artificial intelligence and supportive fiscal and monetary policies. At the same time, the OECD raised its economic growth forecasts for the US and the Eurozone for this year and 2026, but still expects global growth to slow to 2.9% in 2026 from 3.2% in 2025. The organization cautioned that the outlook is “fragile” and its projections are “subject to considerable risks” due to concerns about rapid changes in trade measures and the risk of sudden corrections in technology sector prices.
Across reputable trading platforms, major international markets saw a slight rise in the US dollar index today. Crude oil prices fell slightly, trading at around $59.25 per barrel. The yield on the benchmark 10-year US Treasury note is currently 4.08%.
Ready to trade today’s Gold prediction? Here’s a list of some of the best XAU/USD brokers to check out.
