XAUUSD Gold (XAUUSD) is trading around $3,237, currently testing a descending trendline and minor resistance. A clear breakout above this level could open the way to retest the $3,289 resistance area, followed by the $3,435 recent high and potentially the all-time high near $3,498.Failure to break higher may see the price remain range-bound between $3,240 and $3,289. A break below support at $3,123 would be bearish and could trigger a drop toward $3,050.
Fundamental Drivers:
- Moody’s US credit downgrade continues to support safe-haven flows
- Fed commentary and trade uncertainty cap directional clarity
- Higher Treasury yields remain a headwind for Gold
📌 Key Levels:
- Minor resistance: $3,240
- Major resistance: $3,289 / $3,435
- Support zone: $3,123 / $3,050
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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.
ATFX is a globally regulated, award-winning fintech broker offering customer support in 20 languages.
👉🏼Start your trading journey with ATFX: bit.ly/3mLMPHz
👉🏼Start your trading journey with ATFX: bit.ly/3mLMPHz
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.