XAUUSD data (Gold/Dollar)
Date : 2025-08-04
Opening : 3363.4
Higher up: 3368.8
Below: 3348.8
Closing : 3361.61

Economic news :
Dollar momentum quelled after the weak US jobs report
Monday open levels, indicative FX prices, 04 August 2025
GBP/USD Weekly Forecast: On the Back Foot as BoE Cut Nears

Detailed analysis:
Today, gold (XAUUSD) is showing a slight downward trend, closing at 3361.61 after oscillating between 3368.8 and 3348.8. Despite opening at 3363.4, the downward pressure intensified as the US dollar weakened following a disappointing employment report in the United States. The market is also keeping a close eye on the Bank of England's imminent decision, which could indirectly influence the dollar's momentum and, consequently, gold.

Key levels to watch include major support at 3340, while resistance lies around 3370. Recent volatility has been moderate, but the 3350 to 3360 area could be a crucial pivot point, increasing the risk of false signals.

**Bullish scenario:** If gold manages to break through resistance at 3370 on convincing volume, a climb towards 3385 could follow. However, this scenario would be invalidated if the XAUUSD fell back below 3348, which would indicate a lack of bullish momentum.

**Range scenario:** The market could also consolidate between 3340 and 3370, especially if the dollar remains stable. A clear breakout above these limits will be needed to confirm a new direction. Traders should be wary of erratic movements near these limits.

**Bearish scenario:** A break below 3340 could lead to an acceleration towards 3320. This scenario would be invalidated if gold rebounds above 3365, signalling a return of buyers.

**Risk management tips:** Firstly, it is crucial to manage positions with tight stops to avoid excessive losses in this period of uncertainty. Secondly, avoid overtrading; wait for clear confirmation before taking a position, especially in a potentially volatile market.