Gold Spot / U.S. Dollar
Long
Updated

Gold price maintained above 3400

593
⭐️GOLDEN INFORMATION:

Gold prices surged over 1% on Monday as both the US Dollar and Treasury yields declined sharply, driven by ongoing uncertainty surrounding trade negotiations, despite a generally positive risk tone in broader markets. At the time of writing, XAU/USD trades at $3,397, having rebounded from daily lows of $3,338.

While risk sentiment has improved ahead of upcoming US corporate earnings releases, anxiety lingers as the August 1 tariff deadline set by the White House approaches. Investors remain cautious about potential trade disruptions between the US and its key partners—the European Union (EU), Canada, and Mexico.

Meanwhile, reports from Bloomberg indicate that EU officials are preparing to convene this week to finalize a retaliation strategy, should trade talks with President Trump collapse. This backdrop of trade tension continues to support gold’s safe-haven appeal.

⭐️Personal comments NOVA:

Gold price continues to increase before FED's statement, market's expectation of early interest rate cut, setting new ATH in Q4/2025

⭐️SET UP GOLD PRICE:

🔥SELL GOLD zone: 3450- 3452 SL 3457
TP1: $3435
TP2: $3422
TP3: $3405


🔥BUY GOLD zone: $3332-$3330 SL $3325
TP1: $3345
TP2: $3358
TP3: $3370


⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY order.

⭐️NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
Trade active
Gold sideway around 3390

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