🚨 Gold Update: Bulls Eye $3,500 Again? 📈
08 Aug 2025
11 Aug 2025
Gold Price Slips Below $3,382 as Risk Appetite Grows
Gold (XAU/USD) opened the week under pressure, slipping below $3,382 as upbeat global sentiment reduced safe-haven demand.
A stronger risk tone in Asian markets and optimism over US–Russia talks weighed on prices, though expectations of Fed rate cuts in September and renewed USD weakness helped limit losses.
Traders are now focused on US inflation data due this week, which could set the short-term direction.
Technically, support is seen at $3,353–$3,350, with deeper losses eyeing $3,315–$3,300. On the upside, resistance remains at $3,400, with a break above $3,410 opening the door to $3,423–$3,435 and possibly retesting the $3,500 peak.
