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. The strengthening of the U.S. dollar amid market repositioning creates headwinds for gold, limiting its upward movement.

Additionally, hopes for the resumption of trade negotiations between the U.S. and China are a restraining factor for the precious metal's price growth. Investors remain cautious due to the rapidly changing trade policy of U.S. President Donald Trump, which adds uncertainty to the markets.

At the same time, geopolitical risks associated with the ongoing Russia-Ukraine conflict and tensions in the Middle East continue to support demand for gold as a safe-haven asset. Moreover, expectations of Federal Reserve interest rate cuts in 2025 could weaken the U.S. dollar and contribute to further gold price increases.

From a technical standpoint, the round level, marking the upper boundary of the multi-day range, has become an immediate barrier. Given that oscillators on the daily chart remain in positive territory, sustained strength above this level would be seen as a new trigger for the bulls. A subsequent move north could pull the price toward the next round level at $3500, with an intermediate obstacle around $3440.

On the other hand, the lower boundary of the range around $3334 continues to protect against immediate declines. However, further selling leading to the next support area at $3325 could drag prices below the round level at $3300.