🚨 Gold Update: Bulls Eye $3,500 Again? 📈
08 Aug 2025
31 Jul 2025
📉 Market Outlook: Gold (XAU/USD) – Bearish Bias Remains Despite Recovery Attempt
Current Price Action:
Gold (XAU/USD) is attempting to recover above the $3,300 level amid a slight pullback in the U.S. Dollar. However, the bullish momentum remains weak and largely capped by the $3,310 resistance zone. Unless we get a confirmed breakout above $3,310 and especially $3,325, this recovery is likely just a relief bounce in a broader downtrend.
Key Technical Levels:
Resistance: $3,310 (near-term cap), $3,325 (major hurdle)
Support: $3,275 (100-day SMA), followed by $3,248 (June swing low)
Downside Risk: A decisive break below $3,248 could open the door to $3,200.
Macro Backdrop:
The Fed's hawkish stance and recent U.S. data (strong GDP and ADP payrolls) have boosted the dollar. Even if USD pulls back short-term, the reduced odds of a September rate cut continue to limit gold's upside.
🧠 Our View at Gold Scalping Signals:
We believe today’s gold move is a technical bounce, not a bullish reversal. If $3,310 holds as resistance, we may see renewed selling pressure — especially after the U.S. PCE data release. We're cautious with longs and favor high-volatility setups aligned with the Fed narrative.
