Contents
Market Recap
Gold prices have shown volatility in recent sessions, trading between $2,880 and $2,940 as geopolitical tensions and mixed U.S. economic signals create uncertainty. The metal remains bullish long-term, supported by safe-haven demand amid Trump’s tariff policies and inflation concerns.Exness traders should monitor key technical levels and macroeconomic catalysts like the upcoming PCE report to capitalize on gold’s price action.
Current Price Action and Trends
Price Level:
Gold is currently hovering near $2,890–$2,930, testing the 21-day SMA at $2,890 as a critical support.Trend:
Bullish momentum persists, with the RSI (14-day) above 50, signaling potential upside. However, short-term consolidation is likely due to conflicting USD strength and Trump’s tariff uncertainty.Key Levels:
- Support: $2,890 (21-day SMA) and $2,850 (psychological).
- Resistance: $2,930 (previous session high) and $2,956 (all-time high).
- Long-Term Target: $3,000–$3,100, driven by inflation hedging and central bank easing.
Trading Strategy for XAU/USD
Entry Points
- Pullback Entry: Buy on dips toward $2,890 (21-day SMA) with a tight stop-loss below $2,850.
- Breakout Entry: Target $2,930–$2,956 if price closes above $2,930, confirming bullish momentum.
Risk Management
- Stop Loss (SL): Place below $2,850 (psychological support) to limit downside risk.
- Take Profit (TP): Aim for $2,956 (all-time high) or $2,970 (resistance).
Key Indicators to Monitor
- RSI: Watch for overbought conditions (above 70) to signal potential pullbacks.
- Moving Averages: The 21-day SMA ($2,890) and 50-day SMA (longer-term trend confirmation) are critical.
Rationale for Strategy
- Bullish Drivers: Geopolitical risks (tariffs), inflation hedging, and central bank gold purchases.
- Volatility: Mixed USD signals and Fed policy uncertainty may trigger sharp moves.
Final Advice
Gold’s resilience above $2,890 suggests bullish bias, but traders should wait for confirmation above $2,930 before aggressive longs. Use the 21-day SMA as a pivot point, and adjust SL/TP based on intraday volatility. Monitor Trump’s tariff updates and the PCE report for catalysts.For real-time execution, leverage Exness’s tools to capitalize on gold’s safe-haven appeal.
