Hello, let’s strategize and analyze 
XAUUSD together!
Last week, the gold market went through a highly volatile phase when rumors surfaced that the US would impose a 39% tax on gold bars imported from Switzerland on Thursday afternoon. This news immediately triggered a strong buying surge, pushing the spot price of gold above the critical resistance level of 3,400 USD, although the White House later denied it.
Earlier in the week, gold opened at 3,360 USD and fluctuated multiple times between 3,345 and 3,396 USD/ounce as buying and selling forces battled. Interestingly, even after the tax rumor was debunked, the price of gold only dropped slightly before rebounding and maintaining around 3,400 USD until the end of the week.
According to my analysis, gold is currently correcting and moving around 3,370 USD. The 3,435 USD level (the recent peak) is crucial to watch closely. This level has been tested three times in May, June, and July without being broken, reflecting the consistent strength of the buyers.
Looking further ahead, the 3,500 USD level remains a significant resistance. "I hope the next test will come after a steady upward trend, rather than a quick breakout, as this could lead to a stagnation in the rally," I believe.
The overall market sentiment is also positive: the latest survey shows that about 60% of Wall Street experts predict gold prices will continue to rise, while only 10% foresee a decline, with the rest expecting sideways movement. On the retail side, around 69% of individual investors remain optimistic about gold’s short-term outlook.
What about you? How do you predict gold’s movement?
XAUUSD together!Last week, the gold market went through a highly volatile phase when rumors surfaced that the US would impose a 39% tax on gold bars imported from Switzerland on Thursday afternoon. This news immediately triggered a strong buying surge, pushing the spot price of gold above the critical resistance level of 3,400 USD, although the White House later denied it.
Earlier in the week, gold opened at 3,360 USD and fluctuated multiple times between 3,345 and 3,396 USD/ounce as buying and selling forces battled. Interestingly, even after the tax rumor was debunked, the price of gold only dropped slightly before rebounding and maintaining around 3,400 USD until the end of the week.
According to my analysis, gold is currently correcting and moving around 3,370 USD. The 3,435 USD level (the recent peak) is crucial to watch closely. This level has been tested three times in May, June, and July without being broken, reflecting the consistent strength of the buyers.
Looking further ahead, the 3,500 USD level remains a significant resistance. "I hope the next test will come after a steady upward trend, rather than a quick breakout, as this could lead to a stagnation in the rally," I believe.
The overall market sentiment is also positive: the latest survey shows that about 60% of Wall Street experts predict gold prices will continue to rise, while only 10% foresee a decline, with the rest expecting sideways movement. On the retail side, around 69% of individual investors remain optimistic about gold’s short-term outlook.
What about you? How do you predict gold’s movement?
Trade active
the price is checking support 3350 USD
✅ Receive 7–10 high-quality signals daily for Forex, Gold, and Bitcoin
✅ Fast updates, accurate alerts
✅ Suitable for both beginners and experienced traders
👉 Join now by clicking this link:
t.me/+6v7LMJO7cI04Nzg1
✅ Fast updates, accurate alerts
✅ Suitable for both beginners and experienced traders
👉 Join now by clicking this link:
t.me/+6v7LMJO7cI04Nzg1
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.
✅ Receive 7–10 high-quality signals daily for Forex, Gold, and Bitcoin
✅ Fast updates, accurate alerts
✅ Suitable for both beginners and experienced traders
👉 Join now by clicking this link:
t.me/+6v7LMJO7cI04Nzg1
✅ Fast updates, accurate alerts
✅ Suitable for both beginners and experienced traders
👉 Join now by clicking this link:
t.me/+6v7LMJO7cI04Nzg1
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.