XAUUSD: Uptrend continues with a 500-Pip trading opportunity!
Spot gold continues its upward momentum for the third consecutive day, currently trading around $2,939 per ounce, marking a strong gain of $44 or 1.49% in the past 24 hours.
The primary drivers behind this surge include uncertainty surrounding U.S. tariff policies and strong central bank purchases. Meanwhile, market participants are closely watching the Federal Reserve's meeting minutes for insights into the future path of interest rates. Expectations for a rate cut by the Fed in 2025 have strengthened, particularly after disappointing U.S. retail sales data. Should the U.S. economy weaken due to tariff-related issues, lower interest rates could become a key support factor for gold.
Currently, gold is testing a critical resistance level, where further upside momentum could be triggered. This outlook is reinforced by the trendline and EMA 34-89, which remain intact on the charts. From our perspective, we continue to prioritize buy strategies, staying aligned with the trend—because in trading, the trend is always your best ally.
The primary drivers behind this surge include uncertainty surrounding U.S. tariff policies and strong central bank purchases. Meanwhile, market participants are closely watching the Federal Reserve's meeting minutes for insights into the future path of interest rates. Expectations for a rate cut by the Fed in 2025 have strengthened, particularly after disappointing U.S. retail sales data. Should the U.S. economy weaken due to tariff-related issues, lower interest rates could become a key support factor for gold.
Currently, gold is testing a critical resistance level, where further upside momentum could be triggered. This outlook is reinforced by the trendline and EMA 34-89, which remain intact on the charts. From our perspective, we continue to prioritize buy strategies, staying aligned with the trend—because in trading, the trend is always your best ally.
Trade active
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.