What’s Going On with Gold?

Geopolitical instability — including US-China trade wars and tensions in the Middle East — increases demand for gold as a safe-haven asset.

Gold prices have been rising steadily since the beginning of the year, supported by consistent demand from global central banks and inflows into safe-haven assets amid the Middle East conflict and Trump’s aggressive economic and trade policies. Currently, gold is taking a pause and shows no clear direction.

Trump’s tariff war continues to scare off consumers — both of American goods and financial instruments.

Investors are deeply concerned about the US budget deficit, credit rating downgrades, and weak bond demand. Capital continues to move from the dollar into gold.

Gold prices remain stuck in consolidation — volatility over the past 30 days was only 1.3%. However, trading volumes still support the medium-term uptrend, which started from the $3257–3260 zone. Weak business activity data, GDP slowdown in the US, Powell’s dovish rate comments, and falling inflation expectations in June do not change speculator sentiment.

Attempts to recover in the DXY index, the main competitor to spot gold, have failed so far — a new downward impulse is forming from 97.00–97.50. Gold buyers await a new bullish signal in the $3350–3375 zone.

Dip buyers can consider entering near the $3250–3200 support area with StopLoss below $3200. Target levels: $3370, $3450, $3500 — but higher levels are possible only with solid fundamental support.

We monitor the fundamental backdrop and geopolitical conflict landscape constantly and carefully.

We behave reasonably and do not risk in vain.

Profits to y’all!