Weekly Analysis List
XAU/USD Weekly Analysis
4/7/25
Market Overview
As of April 7, 2025, the XAU/USD (gold vs. U.S. dollar) pair has exhibited significant volatility due to recent geopolitical developments and economic data.
Recent Performance:
Price Movements: Gold prices achieved an all-time high of approximately $3,167.57 per ounce but have since retracted to around $2,985 in early Asian trading on April 7.
Technical Analysis:
Support and Resistance Levels:
Support: $2,970 per ounce
Resistance: $3,086 per ounce
Technical Indicators:
50-Day Moving Average: Gold is currently testing the 50-day moving average; a sustained move below this level could indicate further downside potential.
Fundamental Factors:
U.S. Tariffs: The recent imposition of tariffs by President Trump has increased economic uncertainties, prompting investors to seek safe-haven assets such as gold.
Central Bank Purchases: Central banks, especially from countries with strained relations with the U.S., are augmenting their gold reserves to diversify away from the dollar and mitigate exposure to potential sanctions.
Conclusion
Outlook:
While the recent pullback in gold prices reflects short-term profit-taking and market corrections, underlying factors such as ongoing geopolitical tensions and central bank acquisitions suggest that gold may retain its appeal as a safe-haven asset. Analysts project that gold could reach $3,300 by the end of the year, with some forecasts suggesting potential highs of $3,500 per ounce.