Gold prices continued to rise today during the morning Asian session.
Gold prices continued to rise today as demand rebounded following new US tariff announcements, while investors remained cautious ahead of the Federal Reserve’s policy meeting set to begin later in the day.
This follows a recent 5% drop in precious metals, particularly gold, over the past 1 weeks—driven by central bank buying and differences in the gold-to-silver price ratio.
Gold has also shown more volatility than silver today.
Looking ahead to the European market open, I believe it's an ideal time to sell as much gold and silver as possible at current levels.
In my view, we can expect a downward move of over $100+ in Gold spot XAUUSD either later today or within the next two sessions.
Based on my trading strategy for Spot Gold (XAUUSD): Don’t miss the chance to capitalize on a potential downside move of over $100+ in gold—possibly occurring today or by the end of the week.
Ahead of the European and U.S. market openings today, spot gold (XAUUSD) touched around $3387.11 per ounce, while June Gold Futures traded near the $3400.00 mark.
This price zone could represent a strong selling opportunity, consistent with typical profit-taking behavior.
At these elevated levels, many traders may choose to secure profits, which could lead to a pullback in the market.
If spot gold begins to decline, it may drop toward the intraday low around $3323.50 per ounce. A continued downturn could push prices further to approximately $3287.00—nearly $100 below the recent high. Additional weakness might offer further selling chances, potentially driving prices down to yesterday’s or the weekly low near $3237.81 per ounce.
MGC1! I got out of that trade near breakeven. This price action is looking waay too much like a retest of a breakout and Im not holding it to find out lol