Key Takeaways: Gold’s Weekly Performance
Gold prices fell sharply, breaking below $3,200 before a slight recovery.

$3,200 remains a critical level—reclaiming it could signal bullish momentum.

If support fails, a drop toward $3,000 (a major psychological level) is possible.

Long-term resistance at $3,500 remains a tough barrier for bulls.

Gold’s Weekly Price Action: A Battle for Control
Gold (XAU/USD) faced heavy selling pressure this week, slipping below the key $3,200 support level. However, a late-week rebound suggests buyers are still defending downside moves.

Technical Outlook: Bullish Trend Intact
Despite the pullback, gold remains in an overall uptrend. The recovery on Thursday and Friday indicates that bulls are not ready to surrender yet.

Key Levels to Watch:
✅ Upside Breakout: A decisive move above $3,200 could reignite bullish momentum, targeting $3,500 (a major resistance zone).
⚠ Downside Risk: If gold breaks below this week’s low, the next major support sits at $3,000—a psychologically significant level that could attract buyers.

Market Sentiment: Why Gold Still Holds Appeal
While recent easing in trade war tensions has reduced some safe-haven demand, uncertainty remains:

Geopolitical risks (Middle East tensions, US-China relations)

Inflation concerns and potential Fed policy shifts

Weaker USD could support gold prices

Should You Buy Gold Now?
Aggressive traders may wait for a confirmed break above $3,200 before entering.

Patient buyers could look for a dip toward $3,000 for better risk-reward opportunities.

Final Verdict: Gold’s Next Move Hinges on $3,200
Gold’s short-term direction depends on whether it can hold or reclaim $3,200. While the long-term uptrend remains intact, traders should watch for:
🔹 Break above $3,200 → Bullish continuation
🔹 Break below weekly low → Potential drop to $3,000



You May Also Like

Shifting Sands of Trade: Trump Exempts Key Minerals from Tariffs

In a significant move that recalibrates the landscape of global trade policy,…

Why Should You Invest in Android Apps?

Since calls and text messages are the primary functions of a mobile…

Cybercrime Crackdown: Four Arrested Over Major Retail Hacks Targeting M&S and Co-op

The National Crime Agency (NCA) has made a major breakthrough in its…

Diamond Hands: Dogecoin Holders Buck Selling Trend as Rally Intensifies—Can $0.33 Be Reached?

The Dogecoin rally is showing remarkable strength, but not for the reason…