XAUUSD data (Gold/Dollar)
Date : 2025-08-02
Opening : 3361.89
Higher up: 3369.98
Below: 3355.58
Closing : 3361.38

Economic news :
GBP/USD Weekly Forecast: On the Back Foot as BoE Cut Nears
GBP/USD Price Analysis: Pound Relieved on Weak Jobs Data
investingLive European markets wrap: Stocks stumble, dollar steady ahead of US jobs report

Detailed analysis:
Today's gold market (XAUUSD) is broadly neutral, with prices hovering around the opening level. Volatility is moderate, reflected by a tight price range between 3355.58 (Low) and 3369.98 (High). Currently, key levels to watch include immediate support at 3355, while resistance lies at 3370. The stability of the US dollar, due to expectations around US employment data, is playing a crucial role in this dynamic. Expectations around key rates and inflation remain unchanged, but geopolitical events and UK economic forecasts are indirectly influencing investor perception.

**Potential short-term scenarios:**

1. **Bullish scenario:** If gold manages to break through resistance at 3370 with increased volume, a continuation towards 3385 is conceivable. This scenario would be invalidated if gold were to fall back below 3355, indicating a lack of buying momentum. Traders should watch out for any reversal signals or a rise in the US dollar, which could weigh on gold prices.

2. **Range scenario:** The yellow metal could continue to move sideways between 3355 and 3370, pending clearer macroeconomic catalysts. Traders should keep a close eye on how prices react to this range, particularly for false breaks that could trap positions.

3. **Bearish scenario:** A break below support at 3355 could pave the way for a fall towards 3340. This scenario would be invalidated if prices break back above 3370, signalling a resumption of the bullish momentum. Traders should watch out for increased volatility when US economic data is released.

**Risk management advice:**

- Caution and patience:** Avoid overtrading in periods of low volatility. Wait for clear confirmation before taking positions, especially in a range.

- Rigorous money management:** Use tight stops to limit losses in the event of a sudden adverse movement, especially in anticipation of US data likely to increase volatility.