Gold Forecast: Price Holds Above $3,300 but Bullish Strength Is Limited
Forex news today shows gold price (XAU/USD) trading with a mild upward bias, staying above the $3,300 level for the second straight day. This move comes as a mix of trade worries and a weaker US dollar boosts demand for the metal as a safe-haven asset.
Global trade tensions—especially around new US tariffs—are increasing risk across markets. This is helping gold gain ground. At the same time, falling US Treasury yields and growing talk of potential Federal Reserve rate cuts are weakening the dollar and adding support for gold.
However, bullish conviction remains limited. Strong US jobs data and minutes from the Fed’s June meeting indicate that only a few policymakers favored rate cuts soon. That keeps the door open for a stronger dollar and could cap gold’s upside. On the technical side, gold is nearing a key resistance area around $3,335–3,360, which could limit further gains unless broken.
Impact :
Gold might hold above $3,300 if trade tensions and dollar weakness continue. But strong US data or a pick-up in bond yields could slow the rally.