empty
08.07.2025 07:23 PM
XAU/USD. Analysis and Forecast

This image is no longer relevant

Today, gold remains under pressure; however, several factors are limiting further decline. Expectations that the tariffs imposed by U.S. President Donald Trump will support inflation in the United States in the coming months and force the Federal Reserve to keep interest rates at current levels are undermining the potential for further growth in the yellow metal's price.

Nevertheless, the U.S. dollar is struggling to attract buyers due to concerns about the country's deteriorating financial position.

This image is no longer relevant

Additionally, fears of a potential economic downturn caused by Trump's trade tariffs, as well as ongoing geopolitical risks, are maintaining investor anxiety. This limits aggressive bearish positioning on gold and provides some support to the price.

From a technical standpoint, after the overnight rebound, the price encountered resistance near the 100-period Simple Moving Average (SMA) on the 4-hour chart, located around the $3347 level. This is followed by a supply zone in the $3360–3365 level. A firm breakout above this zone would trigger short covering and push the precious metal's price toward the psychological level of $3400.

On the other hand, support is seen around the $3300–3295 level, which may cap immediate losses. A break below this level could accelerate the decline toward the next support at $3270. Further losses may lead the price to test the lows of June's fluctuations.

Irina Yanina,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Irina Yanina
Start trade
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

What to Pay Attention to on July 18? A Breakdown of Fundamental Events for Beginners

Several macroeconomic reports are scheduled for release on Friday, but none of them are of major importance. The only noteworthy release is the University of Michigan Consumer Sentiment Index

Paolo Greco 06:13 2025-07-18 UTC+2

GBP/USD Overview – July 18: Is the Market Tired of the Dollar and Trump?

The GBP/USD currency pair once again leaned toward decline on Thursday. After the British pound strengthened on Wednesday evening following another report about Powell's dismissal, the dollar quickly recovered. However

Paolo Greco 03:56 2025-07-18 UTC+2

EUR/USD Overview – July 18: Trump Will Keep Trying to Fire Powell for Another Year

The EUR/USD currency pair continued its steady decline throughout Thursday. As a reminder, the forex market experienced an "explosion" on Wednesday evening. Donald Trump once again attempted to either fire

Paolo Greco 03:56 2025-07-18 UTC+2

Farce, Absurdity, and a Drama Series

Since Donald Trump continues his attempts to remove Jerome Powell from the position of FOMC Chair, it's worth taking a closer look at this topic. All recent news is well

Chin Zhao 00:26 2025-07-18 UTC+2

The Bearish Trend in USD/CAD Is Nearing Its End

Canada's Consumer Price Index rose in June from 1.7% y/y to 1.9%, while core inflation increased from 2.5% y/y to 2.7%. This growth remains within an acceptable range —

Kuvat Raharjo 00:26 2025-07-18 UTC+2

AUD/USD: Knockout for the Aussie

The Australian dollar fell sharply against the U.S. dollar on Thursday, updating local price lows. The decline is driven not only by the overall strengthening of the greenback but also

Irina Manzenko 00:25 2025-07-18 UTC+2

The Dollar Doesn't Believe in Myths

What if the idea of the Federal Reserve's independence is just a myth? JPMorgan believes exactly that. The firm argues that the central bank has always interacted with the White

Marek Petkovich 00:25 2025-07-18 UTC+2

EUR/JPY. Analysis and Forecast

Today, the EUR/JPY pair is regaining positive momentum after yesterday's pullback from the 173.25 level, which now marks the yearly high, and is maintaining intraday growth. Spot prices are currently

Irina Yanina 19:08 2025-07-17 UTC+2

USD/CAD. Analysis and Forecast

On Thursday, the USD/CAD pair received support from buyers and rose above the key 1.3700 level, driven by the overall strengthening of the US dollar. Spot prices have corrected

Irina Yanina 12:14 2025-07-17 UTC+2

Not Everyone at the Fed Agrees with Powell

Given the current confusion within the Federal Reserve and the mounting pressure on its Chair Jerome Powell, not all policymakers agree that interest rates should remain elevated. Thomas Barkin, President

Jakub Novak 11:43 2025-07-17 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.