Gold Analysis by zForex Research Team - 07.05.2025
Gold Falls Below $3,380 on Trade Talk Hopes
Gold fell below $3,380 per ounce on Wednesday, ending a two-day rally, as news of an upcoming US-China meeting reduced safe-haven demand. The talks aim to ease trade tensions after last month’s tariff hikes by both nations. Investors now await the Federal Reserve’s policy decision and comments from Chair Powell, with rates expected to remain unchanged despite political pressure for cuts.
Resistance is expected at $3,460, then $3,500 and $3,550. Support stands at $3,350, followed by $3,300 and $3,265.
