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SYMBOL
LAST
BID
ASK
HIGH
LOW
NET CHG.
%CHG.
SPREAD
SOURCE
SPX
S&P 500 Index
7376.86
7376.86
7376.86
7444.20
7369.55
+23.13
+ 0.31%
--
--
DJI
Dow Jones Industrial Average
51285.73
51285.73
51285.73
51662.26
50992.61
-237.33
-0.46%
--
--
IXIC
NASDAQ Composite Index
24579.41
24579.41
24579.41
24825.55
24507.63
+264.41
+ 1.09%
--
--
USDX
US Dollar Index
102.078
102.078
102.158
102.203
101.402
+0.623
+ 0.61%
--
--
EURUSD
Euro / US Dollar
1.11376
1.11376
1.11415
1.12343
1.11307
-0.00799
-0.71%
--
--
GBPUSD
Pound Sterling / US Dollar
1.33490
1.33490
1.33560
1.34631
1.33419
-0.00992
-0.74%
--
--
XAUUSD
Gold / US Dollar
4071.51
4071.51
4071.51
4106.77
4027.58
-16.97
-0.42%
--
--
WTI
Light Sweet Crude Oil
89.474
89.474
89.504
91.308
88.188
-0.715
-0.79%
--
--
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EuroTrader
Osaghae Cephas 
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"Osaghae Cephas" recalled a message
"Osaghae Cephas" recalled a message
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"Jon Jony" recalled a message
"Jon Jony" recalled a message
"Jon Jony" recalled a message
feng 
早上好
feng
@EuroTrader 你可能看到是美国的。但其实我是中国的。我们这有限制
- All
- Russia-Ukraine Conflict
- Middle East Flashpoint
Gold may bounce back after correction, short-term buying opportunities increase
Summary:
Despite short-term downward pressure due to a stronger USD and improved risk sentiment in the market, the long-term trend remains positive with support from safe-haven demand, buying power from ETFs and global monetary policy...
CLOSED
3322.08
Entry Price
3380.00
TP
3280.00
SL
4071.51 -16.97 -0.42%
579.2
Pips
Profit
3280.00
SL
3380.11
Exit Price
3322.08
Entry Price
3380.00
TP
Overview
On May 6, 2025, the world gold price was fluctuating around 3,239 USD/ounce, down about 1.8% compared to last week due to the recovery of the USD and improved risk sentiment when there were signs of progress in US-China trade negotiations.
However, gold is still supported by safe-haven demand amid geopolitical uncertainty and central banks maintaining prudent monetary policies. The important technical support zone around $3,200 was confirmed several times in May, creating a foundation for a possible rebound. Long-term forecasts from experts remain optimistic, with gold prices reaching $3,357 or higher in 2025.
Market psychology
Investor sentiment is currently somewhat cautious as gold prices are under pressure due to a stronger US dollar and improvements in US-China trade relations, reducing demand for safe assets. However, cash flows from gold ETFs and physical demand from major markets such as China remain stable, indicating that long-term buying power remains strong.
The RSI and momentum indicators on the short-term timeframe show that gold is in a slightly oversold zone, creating conditions for a technical recovery. Investors tend to look for buying opportunities at important support zones to take advantage of the recovery potential.
Technical analysis
On the short-term chart, gold is hovering near the $3,200 support zone, which corresponds to the 61.8% Fibonacci level of the previous uptrend, which is considered a potential reversal point. Bollinger Bands show that the bands are narrowing, signaling that volatility may increase sharply in the near future.
The RSI indicators on the H4 and D1 timeframes are approaching the oversold zone, while the MACD shows signs of positive divergence, indicating the possibility of a price increase. Ichimoku shows that the price is still above the Kumo cloud on the D1 timeframe, confirming that the medium-term uptrend has not been broken. The Stochastic on the H1 timeframe is also bouncing from the oversold zone, supporting the technical recovery scenario.
Trading Recommendations
Entry: Buy at the price range of 3,300 - 3,3320 USD/ounce, priority when there is a reversal candlestick signal or technical indicator confirmation.
Take Profit: $3,380/ounce (near resistance zone), next could be $3,450 – $3,570/ounce if the uptrend continues.
Stop Loss: $3,280/ounce, to limit risk if price breaks important support zone.
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