Today’s Gold Analysis Overview:
- The overall Trend for Gold: Bullish.
- Today’s Gold Support Levels: $3372 – $3330 – $3290 per ounce.
- Today’s Gold Resistance Levels: $3425 – $3466 – $3530 per ounce.
Today’s gold trading signals update:
- Sell Gold from the resistance level of $3460 with a target of $3340 and a stop-loss at $3500.
- Buy Gold from the support level of $3330 with a target of $3500 and a stop-loss at $3280.
Technical Analysis of Gold Price (XAU/USD) Today:
Contrary to expectations before the start of the week’s trading, gold bulls were unable to push the gold price index towards the psychological $3500 per ounce resistance level, despite the intensification of the military conflict between Iran and Israel. Gold’s spot price gains stalled around the $3452 per ounce resistance level, and amid profit-taking, gold prices settled around $3383 per ounce at the time of writing this analysis. According to performance across gold trading platforms, the gold price slightly fell below $3400 per ounce as declining concerns about hostilities between Israel and Iran curbed safe-haven demand. Recently, reports indicated Tehran’s readiness to resume nuclear talks with the United States, signalling its willingness to halt missile exchanges after four days of airstrikes.
This increased risk appetite, as the conflict has so far avoided targeting critical global energy infrastructure, further supported the market.
Trading Tips:
We still advise adhering to the strategy of buying gold on every dip, but without taking excessive risks, and monitoring the influencing factors on the gold market as outlined in this analysis.
On another note, that will affect the gold market, the Federal Reserve is expected to keep US interest rates unchanged this week. The Summary of Economic Projections will also reveal how FOMC members are balancing the risks of resurgent inflation and a weakening labour market amidst a period of economic uncertainty. Recent economic data, particularly last week’s soft inflation report, has reinforced expectations that the US central bank may begin easing its monetary policy as early as September.
Will Gold Prices Rise Again?
According to the general trend and gold analysts’ forecasts, regional escalation could spark broader risk aversion and increase gold’s attractiveness, driving inflows and prices higher. Therefore, gold prices are widely expected to continue rising in the coming days, fuelled by increasing global trade and geopolitical tensions, central bank purchases, and a weaker US dollar performance.
Based on the daily timeframe chart, the overall trend for gold prices remains bullish. The direction of technical indicators is still upward, led by the 14-day RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence). Currently, bulls are looking to break the psychological $3400 per ounce resistance in preparation for new record bullish breakthroughs. These breakthroughs, in turn, will move technical indicators towards strong overbought levels. Conversely, over the same timeframe, a break in the bullish outlook for gold’s trajectory would occur with a move towards the $3285 per ounce support level first.
Citibank’s Future Gold Price Forecast:
Citibank Research states that spot gold prices may have peaked, with expectations for a decline in the third quarter of 2025. The firm anticipates the gold price index to stabilize around the $3100 to $3500 per ounce range in Q3, before retreating further by year-end and into 2026. Also, Citibank believes that unexpected resolutions to ongoing geopolitical crises and uncertainties could lead to gold prices falling sooner than expected.
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