Hi everyone, looking at the 2H chart, gold is still stuck between 3,330 – 3,350 USD. The Ichimoku cloud remains heavy, and price keeps hovering in the FVG zone, reflecting hesitation. The key support is around 3,335 USD, but buyers are showing little strength. On the upside, the 3,360 – 3,380 USD area is a strong resistance block that gold hasn’t been able to break.
On the news side, optimism around Russia–US talks has reduced geopolitical risk, cutting safe-haven demand. This, combined with the Fed minutes this week that may strengthen the USD, puts additional pressure on gold.
Main view: Gold is likely to face more downside pressure. If 3,335 USD breaks, the next target could be 3,310 USD. For now, I don’t see gold in a position to rally strongly until new drivers emerge.
Personally, I don’t think this is the moment for gold to break out strongly. It seems more likely that we’ll see a pullback first, before a new catalyst from the Fed or geopolitical developments comes into play. What do you think—could gold slip below 3,335 USD this week?
On the news side, optimism around Russia–US talks has reduced geopolitical risk, cutting safe-haven demand. This, combined with the Fed minutes this week that may strengthen the USD, puts additional pressure on gold.
Main view: Gold is likely to face more downside pressure. If 3,335 USD breaks, the next target could be 3,310 USD. For now, I don’t see gold in a position to rally strongly until new drivers emerge.
Personally, I don’t think this is the moment for gold to break out strongly. It seems more likely that we’ll see a pullback first, before a new catalyst from the Fed or geopolitical developments comes into play. What do you think—could gold slip below 3,335 USD this week?
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