empty
20.03.2025 11:29 AM
XAU/USD. Analysis and Forecast

Gold is experiencing a slight decline after reaching a new all-time high, remaining in a defensive stance.

Currently, bullish traders are exercising caution, as indicated by overbought conditions on the daily chart and the prevailing positive sentiment in the broader market, which generally reduces demand for safe-haven assets like gold.

The modest strength of the U.S. dollar is also limiting further gains in the precious metal. However, the downside remains contained due to uncertainty surrounding President Trump's aggressive trade policies and their potential impact on the global economy. Additionally, geopolitical risks, particularly in the Middle East, continue to support demand for gold as a safe-haven asset. Growing expectations that the Fed might begin a rate-cut cycle earlier than anticipated are also reinforcing bullish sentiment for gold.

Technical Outlook:

From a technical perspective, the Relative Strength Index (RSI) above 70 signals overbought conditions, discouraging traders from initiating new long positions under current circumstances. A prudent approach would be to wait for a short-term consolidation or a modest pullback before considering fresh buy positions. However, a break above the psychological level of $3,000 suggests that the uptrend remains intact, making further upside the path of least resistance.

In case of a significant correction, buyers are likely to step in around the $3,023–$3,022 area, helping to keep prices above the key $3,000 support level, which is now crucial for short-term traders. A decisive break below this level could trigger technical selling, pulling the price towards intermediate support at $2,980–$2,978 and then towards the $2,956 area.

Further downside could extend the decline toward the $2,930 support level, and if bearish momentum persists, gold may retest the psychological $2,900 mark and last week's lows near $2,880.

Irina Yanina,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

XAU/USD. Analysis and Forecast

Today, gold maintains a positive tone; however, bulls are acting cautiously, preferring to refrain from aggressive buying ahead of the release of the important U.S. Non-Farm Payrolls (NFP) report

Irina Yanina 15:30 2025-06-06 UTC+2

WTI. West Texas Intermediate. Traders Await NFP

Prices for West Texas Intermediate (WTI) crude oil remain in the middle of a three-day range. Prices are supported by hopes for the resumption of trade negotiations between the U.S

Irina Yanina 11:23 2025-06-06 UTC+2

ECB Meeting Results and Christine Lagarde's Press Conference

The euro responded with a significant rise following the ECB's decision to cut interest rates. But why did this happen? Let's break it down. The key reason behind the euro's

Jakub Novak 10:54 2025-06-06 UTC+2

What to Pay Attention to on June 6th? Fundamental Event Analysis for Beginners

Analysis of Macroeconomic Reports: A fairly large number of macroeconomic publications are scheduled for Friday, but most of them will not interest traders. For example, the report on industrial production

Paolo Greco 10:11 2025-06-06 UTC+2

Overview for the GBP/USD pair on June 6, 2025

The GBP/USD currency pair continued its upward movement on Thursday, trading overall calmly and without any rush. There was no news for either the British pound or the U.S. dollar

Paolo Greco 05:47 2025-06-06 UTC+2

Overview for EUR/USD on June 6, 2025

The EUR/USD currency pair continued to trade very calmly on Thursday, even when the results of the ECB meeting became known. It should be noted that there was no intrigue

Paolo Greco 05:21 2025-06-06 UTC+2

The EU Economy Will Not Suffer, According to Lagarde

Today, a meeting of the European regulator took place, where the obvious and expected decision was made to lower all three interest rates by another 25 basis points. The decision

Chin Zhao 02:56 2025-06-06 UTC+2

USD/JPY. Analysis and Forecast

During the European session on Thursday, the Japanese yen maintained stability, allowing the USD/JPY pair to hold above the key 143.00 level amid a moderate rise in the U.S. dollar

Irina Yanina 12:04 2025-06-05 UTC+2

AUD/JPY. Analysis and Forecast

Today the AUD/JPY pair is attracting new buyers. Recent Chinese data, including the private Caixin survey, showed a moderate acceleration in growth in China's services sector

Irina Yanina 11:36 2025-06-05 UTC+2

USD/CAD. Analysis and Forecast

The USD/CAD pair continues to decline. Fundamental factors support bearish sentiment, indicating that the path of least resistance for spot prices remains downward. Reports of a trade agreement between

Irina Yanina 11:33 2025-06-05 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.