XAU USD

The timing of Moody’s U.S. downgrade couldn’t be worse for a dollar already looking shaky. With EUR/USD and USD/JPY testing key levels and gold extending its bounce, traders will be watching trade and tax headlines closely to kick off the new week.

Gold prices rebounded off key support at the 2025 uptrend and the battle lines are drawn for the bulls. Levels that matter on the XAU/USD short-term technical charts.

The weekly USD bar doesn’t look all that strong but the context matters, as USD bulls have so far defended higher-low support from the daily chart.

Gold plummeted nearly 9.3% from record highs, with bears now eyeing key support at the yearly uptrend. Battle lines drawn on the XAU/USD short-term technical charts.

The yellow metal slid over 3% as traders rotated out of defensive plays. But while the short-term gold outlook looks shaky, the longer-term case for the bulls hasn’t disappeared. It’s just taking a breather.

Gold snapped a two-week losing streak but remains below the record high as traders await U.S. / China tariff talks. Battle lines drawn on the weekly technical chart.

Gold has experienced two sessions of strong bullish pressure that have pushed the price back toward the $3,400 per troy ounce zone. However, during the current session, selling pressure has reemerged, with a drop of just over 1.5%, as the price remains near historical highs.

Gold has finally strung together two consecutive red weeks for the first time in 2025, building an evening star formation along the way. The question now is whether sellers can seize the day.

Gold is set to post a second weekly decline with the bears looking to test the November uptrend. Battle lines drawn on the XAU/USD short-term technical charts.

from a purely haven point of view, demand should have weakened for gold more meaningfully if stock market investors are correct in pricing in trade agreements. On that basis, the near-term gold forecast is looking a little murky, and a possible drop to, and potentially below, the $3K mark could be on the cards.

The broader gold forecast and price direction remains constructive, even with some of its haven appeal diminishing. Until we witness clear patterns of lower highs, lower lows, and firm trade agreements rather than more political bluster from the Trump administration, the prospect of fresh highs for gold cannot be dismissed.