Gold Powers Through $3,400 as Silver Tests $39 Gold staged an impressive rally today, breaking through the critical $3,400 resistance with gains exceeding 1.5%. Silver followed suit, pushing past the $39 psychological barrier with a 2% advance, signaling renewed appetite across precious metals. Key Support and Resistance Levels The 4-hour chart shows gold has established a solid footing above the $3,360-3,370 zone, which now serves as immediate support. A pullback to test the $3,370 level will be crucial: Holding $3,370 : Opens the door for a challenge of $3,420-3,450, extending the current rebound Breaking $3,370 : Likely triggers a retest of $3,340-3,350 support, shifting into consolidation mode The daily MACD shows early signs of a bullish crossover, though volume remains lackluster, suggesting market participants are still hesitant. Gold finds itself caught between competing forces: Overhead resistance : The $3,400-3,420 band represents a heavily traded zone from mu...
Gold Market Analysis: Weekly Review and Trading Outlook US Economic Data Review Last week (July 14-18, 2025) brought a series of significant US economic releases that substantially impacted market sentiment and gold pricing, with gold closing down 0.16% for the week . Here's a breakdown of the key data points: June Seasonally Adjusted CPI Data The June Consumer Price Index rose 0.3% month-over-month , meeting market expectations. However, core CPI (excluding food and energy) increased just 0.2% monthly , falling short of the anticipated 0.3%. Annual CPI climbed from 3.1% to 3.3% , signaling mounting inflation pressure, though the slower core inflation suggests near-term price pressures may be easing. Import-related goods, particularly household items, saw notable price increases due to tariff impacts, further elevating inflation expectations. 👉 US CPI Data Surprises & Dollar Strength Analysis June PPI Monthly Rate The June Producer Price Index remained flat month-over-...