Gold eyes $4,000 as negative bias persists amid Israel-Hamas peace deal

ChatGPT said:

Gold faces mixed pressure on Thursday, held above $4,000 as the Israel-Hamas peace deal prompts profit-taking, while a stronger USD weighs on the safe-haven metal. Dovish Fed expectations and ongoing US government shutdown concerns provide some support, keeping bullion from a sharp decline.

FOMC minutes show most officials favor further rate cuts this year, with markets pricing in high odds for October and December cuts. Traders now await Fed Chair Powell’s speech for direction, while geopolitical tensions and US labor market risks continue to cap any meaningful slide in Gold.

XAU/USD TECHNICAL OVERVIEW

Technical Structure: Gold shows a strong bullish structure on the daily chart, trading above the 20-day SMA, signaling sustained upward momentum. Shorter timeframes show consolidation on the 4-hour and channel consolidation on 1-hour chart, suggesting temporary pauses before potential continuation.

Weekly Trend: Extremely bullish, indicating strong long-term momentum.

Intraday Trend / Strategy: Bullish to neutral; consider buying on support levels and selling near resistance.

Key Levels:

  • Support: 4025, 4000, 3980

  • Resistance: 4045, 4059 (all-time high resistance)

Recent News

NASDAQ making bearish Flag

February 20, 2025

Market Insights

Gold ends up in the negative territory a...

July 24, 2025

Market Insights

Nasdaq100 Soars Past Resistance Eyes Set...

June 24, 2025

Market Insights

NASDAQ 100 Trades Within Descending Chan...

August 18, 2025

Market Insights

Gold price breaks records above $3200 on...

April 11, 2025

Market Insights

Gold Prices Eye Fresh All-Time Highs Aft...

February 24, 2025

Market Insights

Ana

Cross-Asset Analyst & Trainer

Varun Sharma

Senior Strategist

VJ Yadav

FX Strategist

Bot Window | Bot Window