Today’s Gold Analysis Overview:
- The overall of Gold Trend: Still strongly bullish.
- Today's Support Levels: $3,745 - $3,690 - $3,650 per ounce.
- Today's Resistance Levels: $3,785 - $3,820 - $3,860 per ounce.
Today's Gold Trading Signals:
- Sell gold from the $3,790 resistance level. Target: $3,600. Stop-loss: $3,825.
- Buy gold from the $3,670 support level. Target: $3,800. Stop-loss: $3,640.
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Technical Analysis of Gold Price (XAU/USD) Today:
During today's trading session on Wednesday, September 24, 2025, the gold price index is holding steady around the $3,777 per ounce resistance level. This is near its all-time high of $3,791 per ounce, which it tested yesterday. This level is a key step toward the psychological peak of $3,800, which is important for bulls aiming for the next historic high of $4,000 per ounce. According to gold analyst forecasts, this is a possibility if the current factors driving the gold market's gains continue.
The upward trend for gold remains strong. The market recently reacted to comments from Federal Reserve officials. Fed Chair Jerome Powell pointed to the need to balance persistent inflation with a weak labor market, calling it a "difficult situation" and confirming his statements from last week. Meanwhile, his colleagues have debated both sides of monetary policy, with Governor Bowman suggesting an accelerated pace of monetary easing if the US labor market weakness persists. The market's focus now shifts to the August US Personal Consumption Expenditures (PCE) index—the Fed's preferred inflation gauge—along with upcoming speeches from other Fed officials for further policy clues.
The gold trading market has also benefited from ongoing geopolitical tensions. NATO has stated it will take necessary action to defend itself after Russia's recent violation of Estonian airspace. Strong demand for ETFs has further boosted the value of the bullion, with inflows reaching a three-year high last week.
US Dollar Rises After Jerome Powell's Comments
According to forex currency trades, the US Dollar Index (DXY), which measures the performance of the US currency against a basket of other major currencies, has risen and broken through the 97.30 resistance level, ending a two-day decline. This performance came after Fed Chair Jerome Powell adopted a cautious stance on further policy easing. Powell emphasized that the path for US interest rate cuts remains uncertain as the central bank struggles to balance controlling inflation with a weak labor market. He also noted that price pressures related to tariffs are still at expected lows, allowing for a less restrictive stance if necessary.
In the meantime, new Fed Governor Stephen Miran—who supported a deeper 50-basis point cut at last week's meeting—warned that the Fed might be underestimating its policy tightening, which could put jobs at risk without more aggressive action. Investors are now looking to the upcoming Personal Consumption Expenditures (PCE) index, the Fed's preferred inflation measure, for further signals.
Will Gold Prices Rise in the Coming Days?
Dear trader, according to the daily chart, the overall trend for the gold price index remains strong and upward. Bulls are now trying to break the $3,800 per ounce resistance level in a record-setting rally. Investors are currently unconcerned with technical indicators reaching overbought levels. Instead, they are focused on the continuation of the factors driving the gold market's gains, which include the path of US rate cuts, increasing global trade and geopolitical tensions, central bank purchases of gold bullion, and the trajectory of the US currency. The 14-day Relative Strength Index (RSI) is around 78, having strongly broken above the 70 overbought line, while the MACD indicator's two lines are also in a sharp upward position.
However, dear trader, be careful. The gold market could face profit-taking at any time if the US dollar recovers strongly and global trade and geopolitical tensions ease.
Fed Chair Confirms a Shift in the Bank's Stance on Risks
Yesterday, Fed Chair Jerome Powell indicated in a speech in Rhode Island that signs of a weakening labor market led the US central bank to change its stance on risks, prioritizing growth issues. Powell explained that the country's unemployment rate has risen—although it remains historically low—and job growth has slowed. This paved the way for the September rate cut despite persistent inflationary pressures. He also reiterated that there is no predetermined monetary policy but noted that monetary policy remains restrictive.
The US Federal Open Market Committee (FOMC) cut the benchmark interest rate by 25 basis points in September 2025 to a range of 4.00%-4.25%, which was in line with expectations. The Fed's projections also indicated an additional 50-basis point cut by the end of 2025 and a quarter-point cut in 2026, which is slightly higher than the June forecasts. GDP growth forecasts were also revised upward for 2025 (1.6% vs. 1.4% in June), 2026 (1.8% vs. 1.6%), and 2027 (1.9% vs. 1.8%).
Trading Tips
Dear TradersUp trader, wait for a strong pullback in gold prices to consider buying again, instead of risking a purchase at all-time highs.
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