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Key Highlights:
Record high (ATH): Gold reached a record high of $3,500 on April 22, 2025, and is now consolidating around $3,365.
Tight trading channel: Price has been confined between $3,274 support and $3,443 resistance since May 20.
Neutral momentum: Daily RSI is at 50 and MACD is flat, signaling building energy for the next breakout.
Macro calendar: Upcoming tariff deadlines, August 12 inflation data and September 17 Fed decision could spark volatility.
Jobs weakness: Latest NFP report shows sharp hiring slowdown, raising rate-cut expectations.
Diversification angle: Silver is $40, with a potential breakout toward its $50 record high.
Trade with Bybit on the gold’s volatility here.
Gold’s price action has turned highly technical after its surge earlier this year. On March 14, the precious metal broke above $3,000 for the first time before reaching a record high of $3,500 on April 22. Since May 20, gold has settled into a sideways channel, trading between $3,274 support and $3,443 resistance.