💲Let's comment on the price of gold next week from April 28, 2025 to May 2, 2025
🌐World situation
Earlier, it was reported that China has exempted some US goods from tariffs, a development that has suppressed the safe-haven appeal of gold.
But on the 25th, US President Trump told reporters on Air Force One that unless China makes substantial concessions, it will not cancel the tariffs imposed on China. Over the past week, the US has continued to send confusing and even contradictory signals on the issue of tariffs on China, and market sentiment has deteriorated.
On the 26th, after a brief meeting between US President Trump and Ukrainian President Zelensky in the Vatican, both sides also sent "positive" signals.
Will the Russian-Ukrainian conflict usher in a turning point?
The General Staff of the Ukrainian Armed Forces reported later that day that fighting in the Kursk region was still ongoing. The Ukrainian army held its ground and used a variety of weapons to carry out effective firepower strikes on the enemy, causing losses to the Russian army. The Ukrainian General Staff stressed that the Ukrainian troops were not surrounded and that Russia's statement on the end of hostilities in the region was "purely propaganda in nature." The Ukrainian General Staff also said that fighting by the Ukrainian army in local areas of Belgorod Oblast is still ongoing.
The escalation of the India-Pakistan conflict may also increase safe-haven buying of gold.
📊Comment Analysis
Earlier this week, investors withdrew $1.27 billion from the SPDR Gold Shares ETF, the largest single-day outflow since 2011. At the same time, gold prices hit an all-time high above $3,500, suggesting that there may be some profit-taking factors. In 2011, similar outflows coincided with the peak of gold's last super cycle, marking the beginning of a long period of consolidation for gold, which was not broken until 2020. But this does not guarantee that this will be a turning point, and there are still many positive factors at work, including trade uncertainty, safe-haven demand, central bank demand, and Wall Street's calls for further increases in spot gold prices.
Next week, the gold market will welcome the release of the World Gold Council's first quarter "Gold Demand Trends" report. In addition, US President Trump's 100th day rally on Tuesday may become an important window for gold prices to choose to test the 3,500 mark again or continue to fall from 3,300.
🔷Technical aspect:
Based on the resistance and support levels of gold prices in the H4 framework, Labaron has identified the following important key areas:
Resistance: $3357, $3498
Support: $3228, $3155
✔Operational suggestions
Short-term trading:
Bearish strategy:
If the gold price rebounds to the range of $3,330-3,350, you can try to short, with a target of $3,250 and a stop loss of $3,355.
Bullish strategy:
If the gold price holds the support of $3,260, you can go long with a light position, with a target of $3,330 and a stop loss of $3,240.
Long-term investors: Pay attention to the Fed's policy trends and geopolitical situation. If the gold price falls back to below $3,200, consider investing in batches.
💥Risk Warning
Liquidity risk: Market trading may be bearish in early May, and price fluctuations may be amplified.
Policy black swan: Trump may suddenly announce tariff policies or personnel changes at the Fed, triggering violent market fluctuations.
Technical false breakthrough: There are a large number of stop-loss orders near $3,350, so be wary of reversals after inducing more.
Summary:
Next week, the gold market will be affected by geopolitics, Fed policies and the trend of the US dollar, and the expected fluctuation range is $3,250-3,350. Investors need to pay close attention to key support and resistance levels and adjust strategies flexibly.
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"The Golden Key to Financial Freedom" welcome to join the free channel
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Related publications
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.