Gold prices decline with the dollar recovery: What are the next expectations?
Gold prices today decreased slightly from its highest level in about four weeks, which I recorded early in Tuesday’s trading, to reach a new daily level near the $ 3,351 region, with the entry of European markets. That, the improvement of the global risk morale contributed to the decline in demand for safe havens, including gold, which strengthened the pace of decline in prices according to «Fxstreet».
It seems that investors in the US dollar are reluctant to enter into strong bets, in light of the increasing expectations that the Federal Reserve reduces interest rates again in 2025, which may support gold prices in the medium term. Some investors encouraged profit from the height of gold at the beginning of the week. Where US President Donald Trump accused China of violating the introductory fees agreement, which restored fears of the outbreak of a new trade war. July. Two times during the year 2025, it contributes to reducing gold losses. Austan Golsby, indicated that the benefit can be reduced within 12 to 18 months, while the Federal Reserve Chair in Dallas, Lori Logan, adopted a more cautious tone. $ 3,355, a strong rise signal for buyers. Technical indicators on the daily and hour fees show that the emerging trend is still the closest. In the event that sales pressure continues, gold may go to test the level of horizontal support 3,285-3,286.
In contrast, buyers may wait for a clear penetration over the psychological barrier 3,400 dollars, which may pave the way for the next resistance near 3,430-3,432 dollars. And if the purchasing power continues, the gold may return its historical summit test in April, and perhaps heading towards the level of $ 3,500.
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