- Gold price trades below $3,300 amid modest US dollar strength caution ahead of key PCE inflation data.
- Reinstatement of Trump-era tariffs and ongoing geopolitical tensions support gold’s safe-haven appeal.
- Technical setup signals potential downside toward $3,245 unless bulls reclaim the $3,325–$3,350 resistance zone.
Gold price lost traction on Friday as the dollar recovered, with the spot price down 0.45% to $3,292 during the early European session.The modest pullback is attributed to a slight recovery in dollar. Despite today’s losses, the precious metal remains supported because of geopolitical worries, raising demand for the safe haven asset.
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The immediate focus remains on the US PCE Price index which is Fed’s preferred gauge of inflation. Market participants anticipate a slight down tick in both headline and core PCE. The annual headline rate could fall to 2.2% from 2.3% while core PCE to edge to 2.5% from 2.6%. The data is vital for the Fed to shape the future policy path as the speculations of two rate cuts this year soar.
Fed officials have shown mixed views. San Francisco Fed President Mary Daly has signaled two rate cuts by 2025 if inflation and jobs market conditions align. Contrarily, Fed Chair Powell is cautious with more focus on data, especially after tariff uncertainties cloud growth.
Adding more to the complex scenario, the federal court appeal restored President Trump’s sweeping tariffs a day after the court had blocked them. The move has brought back trade war fears.
Meanwhile, geopolitical concerns from Middle East to Ukraine-Russia peace talks, continue to anchor gold as a hedge against instability. The weak demand of physical gold in India and subdued premiums in China couldn’t trigger a bearish reversal in gold and the trend is still cautiously bullish.
Gold Price Technical Analysis: Bears Aiming for $3,245


The technical perspective of gold shows a consolidation after failure to break the $3,325 resistance area on Thursday that led the losses towards $3,290. It shows a short-term bearish undertone.
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The 4-hour RSI is turning negative, opening the doors for more downside towards $3,280 and a decisive breakout of the level can push prices to $3,245 ahead of $3,200. On the flip side, if the bulls manage to break $3,325, the next target could be $3,350 ahead of $3,370 and then $3,400.
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