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 session on the gold market (XAUUSD) was characterised by an essentially neutral trend, closing slightly below its opening level, indicating hesitation among market players. The key levels to watch at present are support at 3355 and resistance at 3370. Recent volatility has been moderate, but the market remains sensitive to fluctuations in the US dollar, which held steady ahead of the publication of the US employment report.

The impact of recent economic data, in particular market expectations that the Bank of England could cut rates, has not had a direct effect on gold, but the momentum of the dollar and expectations around US key rates continue to influence the precious metal. In addition, anticipation of the US employment report is creating a cautious environment among investors, which could affect gold depending on how the dollar reacts.

### Potential short-term scenarios :

1. **Bullish scenario:**
- Hypothesis:** Gold could rebound if the dollar weakens after the employment report.
- Level to watch:** A break above 3370 would confirm this scenario, with a potential target of 3385.
- Invalidation:** A return below 3355 would invalidate this bullish outlook.
- Pitfalls to avoid:** Don't rush into a simple resistance test without confirming a break.

2. **Range scenario:**
- Hypothesis:** Gold could continue to move sideways in the absence of a major catalyst.
- Horns:** 3355 to 3370.
- Trap to avoid:** Avoid large positions within this range without a clear exit signal.

3. **Bearish scenario:**
- Hypothesis:** A stronger dollar on the back of solid economic data could put pressure on gold.
- Levels to watch:** A break below 3355 could pave the way for a descent towards 3340.
- Invalidation:** A return above 3370 would invalidate this bearish outlook.
- Trap to avoid:** Do not short sell too close to support without confirmation of a break.

### Risk management advice :

- Adopt prudent capital management:** Limit your exposure per position to a reasonable percentage of your total capital to avoid excessive losses.
- Wait for confirmation:** In an uncertain market, wait for clear confirmation before taking a position, whether up or down, to limit the risks associated with false signals.

Keep a close eye on macroeconomic and geopolitical developments that could suddenly influence the gold market.