- The general trend for gold: bowing towards a bearish turn.
- Support levels for gold today: $ 3,220 – $ 3.180 – $ 3,130 per ounce.
- Gold resistance levels for today: $ 3,280 – $ 3,320 – $ 3,380 per ounce.
- Sell gold from the resistance level of $ 3,320 with an objective of $ 3,200 and a stop -los at $ 380.
- Buy gold from the support level of $ 3190 with an objective of $ 3,300 and a stop -los at $ 3,150.
At the beginning of this week, the prices of gold in cash recounted with profits up to the resistance level of $ 3,272 per ounce, recovering from the sales pressures that led to the gold price index at the support level of $ 3,202 per ounce, the lowest price in more than two weeks. According to the performance on the platforms of the companies of Golden Sales, the prices of the gold bilges rose with impetus due to the weakness of the US dollar, since the operators expect more clarity in the commercial negotiations between the United States of America and China.
According to the latest events in world commercial wars, the president of the United States, Donald Trump, declared that he believes that China wants to reach an agreement, although it did not give details or a calendar. Last week, Beijing declared that it is currently evaluating US proposals to initiate commercial conversations, but reiterated that any negotiation would require compliance with certain previous conditions. Meanwhile, investors now focus their attention on the monetary policy meeting of the United States Federal Reserve this week, in which it is widely expected that the US central bank maintains interest rates without changes, despite the renewed calls of President Trump for a type cut.
We continue to buy gold from any bearish level, but without risk, no matter how strong the trading opportunities are. It is better to distribute the amount of the operation at various input levels while the factors that affect the market are monitored.
We continue preferring to buy gold from any bearish level, since world commercial and geopolitical tensions and gold bullion purchases by the central banks will continue to be the most prominent factors that will support the rise in gold prices in the future. The return of gold prices to cash above the resistance of the $ 3,300 per ounce will restore sufficient uprising to push towards new historical record levels. We must not forget that gold prices have risen more than a quarter since the beginning of the price in 2025.
However, be prudent in the next few days. The attention of investors will focus on the next meeting of the US Federal Reserve, which is expected to have the US interest rates unchanged in the midst of the current uncertainty related to trade. The US Employment Report, which was better than expected in April, has reduced the probability of a cut of interest rates in June, reinforcing the expectations of a harder position by the Federal Reserve. The markets now place the probability of a type cut in June in 37%, which represents a strong decrease from 64% of the previous month.
According to the behavior in the daily chart and the expectations of gold analysts for today, gold prices tend to turn down in the middle of the formation of a bearish channel that starts from its historical maximum when it tested the peak of $ 3,500 per ounce and then to the support threshold of $ 3,200 per ounce.
Sales operations strongly promoted the technical indicators, since the 14 -day relative force index (RSI) is close to the midline, confirming the beginning of the bearish control. At the same time, the MACD indicators are already turning down, with the blue line preceding the orange line, confirming the downward turn and is still more time before reaching the overall territory. Currently, the closest support levels for gold prices are $ 3,220, $ 3.180 and $ 3,130 per ounce, respectively.
Discover the trends of gold in the next few days with our forecasts about gold. In addition, check the best gold market brockers recommended by DailyForex. Don’t think about it!
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