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Spot gold prices retreated from their all-time high ($3,057). Due to the severe overbought daily indicators, some profit-taking was triggered, while the strengthening of the US dollar also put pressure on gold prices. Growing market concerns about the negative impact of trade frictions, including the weakening global economy, the possibility of rising inflation, escalating geopolitical tensions, and a more hawkish stance than expected by the Federal Reserve continue to drive the bullish trend of gold.
Since 2025, the price of gold has risen by about 16% and has maintained a steep upward trend in the first three months of this year. The limited pullback suggests that the market is preparing for a larger continuation of the upward trend as most of the key factors that directly affect gold's performance are expected to remain favorable for the precious metal.
The $3,000 price level that has now been broken has now become a solid support level, which should ideally prevent the price from falling further. In case of further pullback, the price is expected to find solid support above the rising 10-day moving average ($2,974), thus maintaining the overall bullish trend and providing a better opportunity to re-enter the long market.
Resistance: $3,057; $3,066; $3,073; $3,085
Support: $3,017; $2,992; $2,986; $2,977
XAUUSD XAUUSD XAUUSD XAUUSD GOLD
Spot gold prices retreated from their all-time high ($3,057). Due to the severe overbought daily indicators, some profit-taking was triggered, while the strengthening of the US dollar also put pressure on gold prices. Growing market concerns about the negative impact of trade frictions, including the weakening global economy, the possibility of rising inflation, escalating geopolitical tensions, and a more hawkish stance than expected by the Federal Reserve continue to drive the bullish trend of gold.
Since 2025, the price of gold has risen by about 16% and has maintained a steep upward trend in the first three months of this year. The limited pullback suggests that the market is preparing for a larger continuation of the upward trend as most of the key factors that directly affect gold's performance are expected to remain favorable for the precious metal.
The $3,000 price level that has now been broken has now become a solid support level, which should ideally prevent the price from falling further. In case of further pullback, the price is expected to find solid support above the rising 10-day moving average ($2,974), thus maintaining the overall bullish trend and providing a better opportunity to re-enter the long market.
Resistance: $3,057; $3,066; $3,073; $3,085
Support: $3,017; $2,992; $2,986; $2,977
XAUUSD XAUUSD XAUUSD XAUUSD GOLD 
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✔Copy accurate trading signals✔Manage accounts🎁Stable profit of more than 188.6% per week🎁Success rate is as high as 97.85%, real-time communication: @cryptoanalyst_baker Signal entry: t.me/FcCygjylf
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.