During the U.S. trading session, spot gold trended higher in a volatile manner, reaching a three-day high of 3,357.88 as of 22:30. The rally was primarily driven by a weaker U.S. dollar, heightened uncertainty over U.S. trade agreements, and intensified market expectations for Federal Reserve rate cuts. The global economic uncertainties have highlighted gold's safe-haven value. Market participants should monitor the negotiation progress ahead of the tariff deadline on July 9. Traders have priced in at least two rate cuts in 2025. This Thursday's U.S. employment report may catalyze a decline in U.S. Treasury yields. Trump plans to replace Powell, demanding that the new chairman supports rate cuts. The market is focused on this week's ADP and non-farm payroll data to gauge the Fed's policy trajectory.
From a 4-hour technical perspective, the MACD has formed a bullish divergence, triggering a rebound with expanding red histogram bars. Prices are advancing along short-term moving averages, breaking through the previous range of resistance levels, indicating a short-term bullish trend. Before the non-farm payroll data, prices are expected to remain range-bound, with attention paid to safe-haven demand triggered by geopolitical risks. Focus on the opportunity for a secondary rally after the end-of-session pullback confirmation. Short-term resistance is seen at the 3,375-3,380 zone.
On the hourly chart, prices are in a narrow high-range consolidation with limited pullback momentum. Candlesticks maintain strength by relying on short-term moving averages.
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buy@3330-3335
TP:3360-3365
From a 4-hour technical perspective, the MACD has formed a bullish divergence, triggering a rebound with expanding red histogram bars. Prices are advancing along short-term moving averages, breaking through the previous range of resistance levels, indicating a short-term bullish trend. Before the non-farm payroll data, prices are expected to remain range-bound, with attention paid to safe-haven demand triggered by geopolitical risks. Focus on the opportunity for a secondary rally after the end-of-session pullback confirmation. Short-term resistance is seen at the 3,375-3,380 zone.
On the hourly chart, prices are in a narrow high-range consolidation with limited pullback momentum. Candlesticks maintain strength by relying on short-term moving averages.
you are currently struggling with losses，or are unsure which of the numerous trading strategies to follow,You have the option to join our VIP program. I will assist you and provide you with accurate trading signals, enabling you to navigate the financial markets with greater confidence and potentially achieve optimal trading results.
Trading Strategy:
buy@3330-3335
TP:3360-3365
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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.