- XAU/USD losses momentum near $1850 and falls hitting fresh daily lows.
- The metal is about to end a three-day positive streak, after rising more than $80 from the weekly bottom.
Gold peaked after the beginning of the American session at $1848/oz reaching the highest level since November 23 and then turned to the downside. It bottomed at $1829 and is it about to end the week hovering around $1830.
It was a volatile week for gold. From the Monday low at $1763 rose more than $80. As of writing, it is up 4% for the week. The sharp rebound mitigated the bearish pressure.
The recovery in gold was capped by the strong $1845/50 area that is a critical resistance. A break higher should lead to further gains. So far, every approximation was followed by a limited correction lower. The positive momentum will likely continue to hold while price remains above $1800. A slide below would expose the next support at $1775 and the recent low of $1764.
Gold is about to end the week higher, after losing almost $200 over the previous three weeks. The move to the upside started with a technical correction and amid profit-taking. More recently, it was the dollar’s weakness that supported the move higher.
Technical levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD rose to fresh highs around 1.1240
EUR/USD maintained its bullish momentum on Thursday, climbing to the 1.1240 region as the US Dollar accelerated its decline amid growing concerns about the economic fallout from Trump's tariffs.
GBP/USD picks up pace, challenges 1.3000
GBP/USD made significant gains, edging just pips shy of the psychological 1.3000 barrier. The advance came amid trade war jitters and a sharp sell-off in the Greenback following the announcement of 145% US tariffs on China.
Gold flirts with record peaks near $3,175, Dollar tumbles
Gold continued its record-setting rally on fresh tariff-related headlines, surging past the $3,170 mark per troy ounce after the White House confirmed new tariffs, sparking another round of US Dollar selling.
Cardano stabilizes near $0.62 after Trump’s 90-day tariff pause-led surge
Cardano stabilizes around $0.62 on Thursday after a sharp recovery the previous day, triggered by US Donald Trump’s decision to pause tariffs for 90 days except for China and other countries that had retaliated against the reciprocal tariffs announced on April 2.
Trump’s tariff pause sparks rally – What comes next?
Markets staged a dramatic reversal Wednesday, led by a 12% surge in the Nasdaq and strong gains across major indices, following President Trump’s unexpected decision to pause tariff escalation for non-retaliating trade partners.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.