✅ Fundamental Analysis
🔹 Short-Term Decline in Safe-Haven Demand:
Recent developments, including the U.S.-EU tariff agreement and the resumption of U.S.-China trade talks, have temporarily eased market tensions, weakening gold's appeal as a safe-haven asset.
🔹 Dollar Rebound Pressures Gold:
The U.S. Dollar Index rebounded sharply after a second bottoming attempt, breaking above the key 98.10 resistance level. This strengthened pressure on gold and limited its upward potential.
🔹 FOMC Rate Decision in Focus:
The Federal Reserve will announce its interest rate decision today. The market’s focus is on whether a signal for a potential rate cut in September will be delivered.
If the statement is hawkish, downplaying the chances of a rate cut, the dollar may strengthen further, possibly pushing gold to test support near $3300.
If the Fed adopts a dovish tone or hints at a September rate cut, it may trigger a breakout above the $3350 resistance level.
🔹 Key U.S. Economic Data Ahead:
Today also brings the release of ADP employment data and the Q2 GDP revision.
If GDP growth exceeds expectations (>2.0%), it may strengthen the case for prolonged higher interest rates, which would be bearish for gold.
If data disappoints, it could reinforce dovish expectations and support a rebound in gold prices.
✅ Technical Analysis
🔸 Gold continues to fluctuate within the $3333–$3320 range, reflecting a market in wait-and-see mode ahead of the Fed decision.
🔸 Short-term price action still favors the bearish side, but strong support below and persistent geopolitical risks are offering some downside protection for gold.
🔴 Resistance Levels: 3355 / 3375 / 3380
🟢 Support Levels: 3310 / 3300 / 3280
✅ Trading Strategy Reference:
🔰 If the price rebounds to the 3355–3365 zone, consider light short positions
⛔Stop-loss: Above 3380
🎯 Target: Around 3320
🔰 If the price pulls back and stabilizes around 3310–3300, consider short-term long positions
⛔ Stop-loss: Below 3285
🎯 Target: 3340
🔰 If the price breaks below 3300, bearish momentum may extend toward 3280
🔰 If the price breaks above 3355, the bearish structure will likely fail, and gold may resume its upward trend
✅ With the market entering a high-impact news period at month-end, volatility is expected to increase significantly. Traders should set stop-losses strictly and manage position sizes carefully to mitigate the risks of sudden market moves.
🔹 Short-Term Decline in Safe-Haven Demand:
Recent developments, including the U.S.-EU tariff agreement and the resumption of U.S.-China trade talks, have temporarily eased market tensions, weakening gold's appeal as a safe-haven asset.
🔹 Dollar Rebound Pressures Gold:
The U.S. Dollar Index rebounded sharply after a second bottoming attempt, breaking above the key 98.10 resistance level. This strengthened pressure on gold and limited its upward potential.
🔹 FOMC Rate Decision in Focus:
The Federal Reserve will announce its interest rate decision today. The market’s focus is on whether a signal for a potential rate cut in September will be delivered.
If the statement is hawkish, downplaying the chances of a rate cut, the dollar may strengthen further, possibly pushing gold to test support near $3300.
If the Fed adopts a dovish tone or hints at a September rate cut, it may trigger a breakout above the $3350 resistance level.
🔹 Key U.S. Economic Data Ahead:
Today also brings the release of ADP employment data and the Q2 GDP revision.
If GDP growth exceeds expectations (>2.0%), it may strengthen the case for prolonged higher interest rates, which would be bearish for gold.
If data disappoints, it could reinforce dovish expectations and support a rebound in gold prices.
✅ Technical Analysis
🔸 Gold continues to fluctuate within the $3333–$3320 range, reflecting a market in wait-and-see mode ahead of the Fed decision.
🔸 Short-term price action still favors the bearish side, but strong support below and persistent geopolitical risks are offering some downside protection for gold.
🔴 Resistance Levels: 3355 / 3375 / 3380
🟢 Support Levels: 3310 / 3300 / 3280
✅ Trading Strategy Reference:
🔰 If the price rebounds to the 3355–3365 zone, consider light short positions
⛔Stop-loss: Above 3380
🎯 Target: Around 3320
🔰 If the price pulls back and stabilizes around 3310–3300, consider short-term long positions
⛔ Stop-loss: Below 3285
🎯 Target: 3340
🔰 If the price breaks below 3300, bearish momentum may extend toward 3280
🔰 If the price breaks above 3355, the bearish structure will likely fail, and gold may resume its upward trend
✅ With the market entering a high-impact news period at month-end, volatility is expected to increase significantly. Traders should set stop-losses strictly and manage position sizes carefully to mitigate the risks of sudden market moves.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.