Cautious buying lifts Gold from $3,311 eyeing FOMC Minutes for $3,350?

Gold plays strong on Buoyancy principles as dips to $3311 attracts buyers reclaiming 1 Hourly 100 SMA at $3336
Markets remain broadly cautious ahead of upcoming FOMC meeting minutes for clues on Interest rate outlook.
Dollar Index drops from Intraday high of 98.40 to 98.10 adding strength to Gold's bullish momentum.
Russia-Ukraine crisis remains on edge despite Trump mediation.

Sunil Kumar Dixit SK Charting

What's going on with Gold?

Cautious markets prefer safe haven asset Gold than Dollar and early Asian session witnessed a consolidated buying off the lows of $3311.50 which triggered bullish rally that advanced surpassing cluster of resistances $3327-$3336 and reached $3344 aligned with 4 hourly 50 EMA.

If Gold maintains bullish momentum above $3343, next upside target sits at $3349 above which critical hurdle and turning point is swing high $3358 followed by $3364.

Meanwhile, some pullback retracement towards support base may not be ruled out on US session opening hours with a potential retest of $3336-$3330-$3325 zone where buyers may resurface for extended bullish rally that targets $3385.

On the flip side, break below $3320 followed by break below $3310 will resume selling pressure to target $3305-$3292.

Author

Sunil Kumar Dixit

SK Charting

Sunil Kumar Dixit is Chief Technical Strategist and founder of SK Charting, a research firm based in India. He tracks Precious Metals, Energy, Indices and Currency Pairs. He also participates as an expert panellist on Channel Television, Nigeria.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.