Well, well, well. Just when you thought gold had found its rhythm, it’s back to playing the villain in this week’s episode of XAUUSD drama. According to the previous week’s predictions, the yellow metal is switching teams – it’s now in sell mode. Why, you ask? Because the global tension between Iran and Israel has chilled a bit. Oh, the irony of international politics!
Here’s the breakdown, my financial detectives:
The gold story this week is mostly about selling, but don’t get too comfortable – it might flip to buying mid-week if the stars align. So, let’s chat about the magic numbers for buying and selling this precious commodity, shall we?
Key economic events of this week
Hold on to your wallets, folks. Big U.S. economic reports are hitting the stage this week, and they’re bound to shake things up with XAUUSD.
Wed, Jul 9 – FOMC Meeting Minutes
Traders will be on the edge of their seats, reading between the lines of these minutes. A hawkish tone (hello, inflation risks and rate hikes) could send the USD soaring and gold diving. But if the tone is as soft as a marshmallow (read: dovish or neutral), then gold could be back in action. Who’s got the popcorn?
Thu, Jul 10 – Unemployment Claims
If the labor market takes a hit, gold might get a temporary boost (who knew bad news could be good for anything?). But if claims fall below expectations, the USD could rally and gold might get a little shaky. Stay tuned!
Gold HTF Overview
The May 2025 monthly candle was high – super high – and June tested it. But now, from a technical perspective, the price might take a plunge down to around $3122 before it pulls itself back up. It’s like a rollercoaster, but with more gold and fewer screams.
Gold Forecast for July 7th to July 30th, 2025
Looking for a buying opportunity? The sweet spot is around $3296-3274, where the 4h order block is lurking. If gold hits that level, expect a 100-300 point move upwards. It’s like a little treasure hunt, but less piratey.
On the other hand, the selling zone is around $3332-3342, sitting like a trap for any bullish gold dreams. It’s where the 1-hour breaker block and supply area hang out. Watch out, gold!
And guess what? The weekly level is giving us another potential buying zone around $3204. Could it be the golden ticket?
Trading Strategies & Investment Recommendation
So, what’s the final verdict? Gold is a bit of a wild card this week. Shorter time frames are calling for sells, while the big-picture folks are still favoring a buy position. Gold’s mood swings are real, folks!
Resistance Levels
- $3332-3342 – Watch out, this is the 1h breaker block and supply zone
Support Levels
- $3296-3274 – That 4h order block is whispering sweet nothings
- $3204 – The weekly level that might just save the day
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2025-07-08 16:32