Gold Price Today: Buyers Step In, But No Big Move Yet
Gold price (XAU/USD) went up slightly on Monday after falling in the early session. It bounced back from around $3,311 as the US dollar stayed weak. Traders are being careful ahead of the important FOMC meeting this week and some major U.S. news like GDP, inflation, and jobs data.
Even though gold went up, buyers don’t seem very confident yet. Many investors are now feeling hopeful about a trade deal between the US and Europe, which is making them take more risk. That means less interest in safe-haven assets like gold.
On the chart, gold is getting support near $3,311. But it may face problems if it tries to go above $3,351–$3,352, which is a strong resistance level. If it breaks that, gold might move up to $3,371–$3,373, and maybe even reach $3,400.
If gold starts falling again, it may drop below $3,300 and move toward the recent low near $3,282.
Impact:
Gold could rise if the US dollar gets weaker or data is not strong. But if traders stay confident, gold might not go much higher.