Gold remains near record highs, driven by safe-haven demand and a weaker dollar. Market volatility persists as President Trump’s shifting tariff policies create uncertainty. Investors are closely watching US Non-Farm Payroll data—strong figures could dampen Fed rate cut expectations, lifting the dollar and pressuring gold.
Technical Perspective
XAUUSD broke out of the ascending trendline and retreated below the resistance at 2930, which aligns with the 78.6% Fibonacci Retracement. If XAUUSD extends its decline and breaks 2900, a further drop toward the following support at 2830 may occur. Conversely, a break above 2930 could prompt a retest of the following resistance at 2950.
By Li Xing Gan, Financial Markets Strategist Consultant to Exness
Technical Perspective
XAUUSD broke out of the ascending trendline and retreated below the resistance at 2930, which aligns with the 78.6% Fibonacci Retracement. If XAUUSD extends its decline and breaks 2900, a further drop toward the following support at 2830 may occur. Conversely, a break above 2930 could prompt a retest of the following resistance at 2950.
By Li Xing Gan, Financial Markets Strategist Consultant to Exness
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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.
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.