Gold dipped to around $3,340 per ounce in the prior session as investors turned cautious ahead of the Federal Reserve’s three-day Jackson Hole symposium, set to begin later today.
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Gold Price Daily Chart Outlook
The daily chart of XAU/USD (Gold vs USD) shows:
- Gold is struggling around the slightly bearish 20-day SMA.
- Buyers are entering near the 100-day SMA around \$3,313.40.
- Technical indicators are not showing any strong trend – just moving sideways.
- The recent intraday fall only created a mild downward slope, not a strong sell-off.
👉 In short, the daily chart shows uncertainty, with buyers waiting around support levels.
Gold Price 4-Hour Chart Outlook
On the 4-hour chart, the trend looks neutral:
- The 100 SMA and 200 SMA have converged near \$3,348, blocking the price from moving higher.
- The price is slightly above the 20 SMA, but it’s flat – showing no momentum.
- Technical indicators are sideways, staying in the neutral zone.
Key Levels to Watch
- Resistance Zone: \$3,348 – \$3,350 (if price breaks above, gold can turn bullish)
- Support Zone: \$3,313 – \$3,315 (buyers are likely to defend this level)
Short-Term Trading View
- If gold climbs above \$3,350, fresh bullish momentum may come in.
- If gold dips near \$3,313, Indian traders and global buyers may treat it as a buying opportunity.
👉 As we say in India – “Dip mein kharido, upar becho” (buy the dip, sell at the top).
FAQ – Gold Price Analysis (XAU/USD)
Q1. What is the key resistance for XAU/USD today?
The main resistance is around \$3,350. A break above this level can trigger bullish momentum.
Q2. Where is the support for gold price?
Support is seen near \$3,313 – \$3,315, where buyers usually step in.
Q3. Is gold bullish or bearish right now?
At the moment, gold looks neutral on both daily and 4-hour charts. It needs a clear breakout.
Q4. Should Indian traders buy gold now?
Buying on dips near support may be a safer strategy, while keeping an eye on the \$3,350 breakout level.
Q5. Where can I track live gold prices?
You can check live updates on MCX India or Investing.com.
Would you like me to also add MCX Gold (₹ price levels in INR) along with this XAU/USD (dollar) view? That way it’ll be more relatable for Indian traders.