🚨 Gold Update: Bulls Eye $3,500 Again? 📈
08 Aug 2025
28 Jul 2025
🟡 Gold Slips Below $3,330 as USD Strengthens
Gold prices are under renewed bearish pressure for the third consecutive session, retreating below $3,330 per ounce, as a firm U.S. Dollar and rising Treasury yields weigh heavily on the precious metal.
According to ING commodities strategists Ewa Manthey and Warren Patterson, spot gold came under pressure last Friday, driven by macroeconomic factors that favor the USD:
"Spot prices dropped below $3,330/oz on Friday amid the strength in the US dollar and Treasury yields. President Donald Trump downplayed tensions with Federal Reserve Chair Jerome Powell last week, easing concerns over the Fed’s independence."
🔍 What's Pressuring Gold?
📈 USD Strength: The U.S. dollar gained bullish traction, diminishing gold's appeal as an alternative investment.
🏛️ Rising Yields: U.S. 10-year Treasury yields rose in response to robust labor data, reinforcing bearish sentiment on non-yielding assets like gold.
👷♂️ Labor Market Resilience: U.S. jobless claims fell for a sixth straight week — the longest streak since 2022 — signaling a resilient labor market.
🏦 Interest Rate Expectations: The market is now pricing in fewer than two Fed rate cuts in 2025, with the first potentially arriving in October.
📉 Technical Outlook
Gold is trading below key support at $3,330, with further downside likely toward $3,308 and $3,280, barring a strong bounce. Bulls must reclaim $3,355 for any recovery to gain traction.
📢 Gold Scalping Signals Insight:
💡 If you're not subscribed to our VIP Gold signals, you're missing out on precise entry/exit points and daily technical breakdowns like this one.
