Today’s Gold Analysis Overview:
- The overall Gold Trend: Bullish.
- Gold Support Levels Today: $3360 – $3320 – $3280 per ounce.
- Gold Resistance Levels Today: $3388 – $3400 – $3430 per ounce.
Today's Gold Trading Signals:
- Buy gold from the $3340 support level, with a target of $3410 and a stop-loss at $3320.
- Sell gold from the $3390 resistance level, with a target of $3280 and a stop-loss at $3420.
Technical Analysis of Gold Price (XAU/USD) Today:
On Wednesday, August 27, 2025, the price of gold retreated slightly below $3380 per ounce, pulling back from a two-week high of $3394 per ounce, the closest point to testing the psychological $3400 peak. Gold's gains have been driven by concerns over the Federal Reserve's independence. US President Trump has signaled his intention to engage in a legal battle after seeking to remove Fed Governor Lisa Cook over allegations of misconduct. This move has renewed fears about the Fed's autonomy and its exposure to political pressure. Analysts have warned that her removal could accelerate US interest rate cuts, aligning with Trump's push for a more flexible policy.
In this regard, financial markets now place an approximately 80% probability of a quarter-percentage-point rate cut in September.
On the trade front, a US official stated that a deal with India is unlikely to be reached before the deadline, paving the way for tariffs on Indian goods to double to 50%, while Indonesia secured exemptions for selected commodities. Trump also threatened to impose steep tariffs on China over its rare-earth exports, further straining ties between the two superpowers. In Europe, political risks have risen as the French prime minister proceeds with an austerity plan ahead of a confidence vote.
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Upcoming Technical Levels for Gold Prices
Based on the performance on the daily chart and the expectations of gold analysts, the general trend for gold prices remains strongly upward. Also, the psychological resistance of $3,400 per ounce will remain an important indicator of further bullish control over the trend, thus pushing technical indicators towards strong overbought levels. The 14-day Relative Strength Index (RSI) has a reading above 56, far from the neutral line, indicating further bullish momentum if additional factors are present. At the same time, the MACD lines are also trending upward. As noted, the $3,400 per ounce threshold is important for further bullish control, thus preparing for stronger upward breakouts.
A bearish scenario for gold requires bears to move towards the $3,350, $3,330, and $3,300 support levels, respectively, over this period. Moreover, the gold market continues to enjoy momentum from rising global trade and geopolitical tensions and increased central bank gold bullion purchases. This is in addition to pressure on the US dollar due to Trump's policies, which are undermining confidence in the US currency.
The US Dollar Attempts to Recover its Losses
According to forex market trading, the US dollar index rose above 98.3 today, recovering its losses from the previous session. This comes despite renewed concerns about the Federal Reserve's independence, which could weaken confidence in the US dollar's global dominance.
Earlier this week, President Donald Trump stated that he would fire Fed Governor Lisa Cook over allegations of mortgage fraud, although her lawyer stated she would take legal action to prevent the removal. Analysts have warned that Cook's potential dismissal could increase the likelihood of early US interest rate cuts, with Trump asserting greater influence over the central bank. Currently, markets are assigning an 87% probability that the Fed will cut interest rates by 25 basis points in September.
Economically, investors are awaiting the release of the Personal Consumption Expenditures (PCE) price index on Friday, the Fed's preferred measure of US inflation, for additional clues on the outlook for monetary policy.
Another factor influencing gold trading is that the 10-year US Treasury yield has stabilized around 4.27% today, affected by renewed concerns about the Fed's independence and the potential for declining confidence in US assets.
Trading Advice:
Traders are advised to wait for gold prices to fall again to renew their buy positions, instead of risking buying at the highest levels.
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