empty
17.04.2025 11:49 AM
Gold: Ongoing Uncertainty Continues to Support Gold Prices

Gold prices continue to receive support amid the fog of uncertainty surrounding the future course of the tariff wars initiated by Donald Trump.

The price of gold has been climbing almost vertically for four months. The main driver is growing fears that the global economy could collapse under the weight of escalating tensions—primarily the confrontation between Beijing and Washington.

From a technical standpoint, the price of the yellow metal is overbought and could collapse at any moment if news emerges of a trade agreement between the U.S. and China. While there is no clear end in sight to the standoff, given Beijing's firm stance, Trump's maneuvering, and the real risks of economic strain—particularly in the U.S.—it's reasonable to expect negotiations between the two nations to begin eventually.

Technical Setup and Trade Idea:

This image is no longer relevant

The price is above the middle line of the Bollinger Bands, below the 5-period SMA, but above the 14-period SMA. RSI is turning downward in the overbought zone. The Stochastic indicator has exited the overbought zone and is actively declining, giving a sell signal.

I believe gold prices could drop to 3243.55, which may be a local corrective pullback within the framework of a sustained short-term uptrend. A potential entry point could be considered around the 3309.00 level.

Pati Gani,
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

NZD/USD. Analysis, Forecast, and Current Market Situation

The NZD/USD pair is currently trading above the psychological level of 0.6000; however, it remains vulnerable to further downside amid broad-based U.S. dollar strength. The U.S. Dollar Index is supported

Irina Yanina 12:00 2025-07-09 UTC+2

Forecast for EUR/USD on July 9, 2025

On Tuesday, the EUR/USD pair continued to decline, completely ignoring the 127.2% correction level at 1.1712. This level is currently not suitable for identifying trading signals. The euro's decline should

Samir Klishi 11:20 2025-07-09 UTC+2

Forecast for GBP/USD on July 9, 2025

On the hourly chart, the GBP/USD pair fell on Tuesday to the 127.2% Fibonacci level at 1.3527, rebounded from it, and turned in favor of the pound. This may signal

Samir Klishi 11:05 2025-07-09 UTC+2

Can 0.7939 withstand the temporary correction of the USD/CHF currency pair, Wednesday, July 9, 2025?

USD/CHF – Wednesday, July 9, 2025. Due to the USD's safe-haven support and global trade risks, although the CHF is quite strong, these conditions still have the potential to cause

Arief Makmur 07:12 2025-07-09 UTC+2

Sellers continue to dominate the NZD/USD commodity currency pair, Wednesday, July 9, 2025.

NZD/USD, Wednesday, July 9, 2025. Global risk sentiment regarding commodity currencies and New Zealand's cautious monetary outlook are putting pressure on the Kiwi's potential today. Key Levels 1. Resistance

Arief Makmur 07:12 2025-07-09 UTC+2

EUR/USD Forecast for July 9, 2025

On Tuesday, the euro attempted a downward move but failed to reach support at the MACD line, stopping at the target level of 1.1692. The day closed with a white

Laurie Bailey 06:58 2025-07-09 UTC+2

GBP/USD Forecast for July 9, 2025

Yesterday, the British pound tested the area around the daily balance line. This move revealed the weakness of support levels on the path toward the target level of 1.3414, which

Laurie Bailey 06:30 2025-07-09 UTC+2

USD/JPY Forecast for July 9, 2025

USD/JPYThe USD/JPY pair appears to be completing the formation of a triangle. There are several possible scenarios. According to the main scenario, the pair is likely to test the upper

Laurie Bailey 06:25 2025-07-09 UTC+2

Trading Signals for EUR/USD for July 8-12, 2025: buy above 1.1650 (21 SMA - 8/8 Murray)

The eagle indicator has reached oversold levels, so we believe the euro could recover above 1.1680 in the coming hours and then reach 1.1718, where the 8/8 Murray is located

Dimitrios Zappas 18:58 2025-07-08 UTC+2

Trading Signals for GOLD (XAU/USD) for July 8-12, 2025: buy above $3,285 (21 SMA - 4/8 Murray)

If a break below 3,281 occurs, we could expect a bearish acceleration, and gold could reach the 3/8 Murray level at 3,242 and ultimately reach the bottom of the main

Dimitrios Zappas 18:56 2025-07-08 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.