Gold Analysis 10/09: Rally Will Continue For A While (Chart)

(MENAFN- Daily Forex) Today's Gold Analysis Overview:

• Overall Gold Trend: Strongly bullish.
• Today's Support Levels: $3610 - $3570 - $3500 per ounce.
• Today's Resistance Levels: $3670 - $3690 - $3730 per ounce.

Today's Gold Trading Signals:

• Sell gold from the $3685 resistance level with a target of $3540 and a stop-loss at
• Buy gold from the $3590 support level with a target of $3680 and a stop-loss at $3540.

Technical Analysis of Gold Price (XAU/USD) Today:

Amid growing positive sentiment for gold trading, the gold price index has reached a new record high, supported by strong fundamental and technical indicators. According to gold trading platforms, real-time gold prices rose to the $3674 per ounce resistance level yesterday, Tuesday-the highest price in gold's history. The price is now stable around $3640 per ounce as of this analysis, with the market waiting to see if gold will continue its upward trend or face profit-taking in the coming days Gold Prices in the Coming Days:

According to gold analysts, prices could reach a peak of $3800 per ounce by the end of 2025. Experts believe that the recent price increase is a result of growing expectations for a Federal Reserve interest rate cut in September, but they also note that strong safe-haven buying amid a difficult geopolitical climate will likely sustain the gains. They expect gold ETF holdings to continue to grow in major markets as long-term fundamentals remain strong. Global central bank gold purchases are also likely to accelerate in the second half of the year. Any minor price declines in the short term will likely be minimal as the upward momentum continues.

Top Forex Brokers1 Get Started 74% of retail CFD accounts lose money

As we mentioned before, gold investors will not be concerned with all technical indicators reaching strong overbought levels after recent strong consecutive gains, as much as they will be concerned with the continued strength of gold trading. Overall, positive fundamental and technical indicators continue to fuel investor and speculator buying Advice:

Traders are advised to wait for gold prices to decline due to profit-taking before entering new buy trades. It's better to avoid the risk of buying at all-time highs Driving Gold's Strength:

The market is still being supported by U.S. monetary policy expectations and broader uncertainty. Recent revisions to U.S. non-farm payrolls data show that the U.S. economy added significantly fewer jobs than initially expected over the past year. This adds to a series of weak labor market reports that have pushed markets to price in multiple U.S. interest rate cuts this year, including a potential 25-basis-point cut at the upcoming Federal Reserve meeting. Investors are now awaiting U.S. inflation data later this week for further guidance.

EURUSD Chart by TradingView

Now, investors are awaiting US inflation data later this week for further guidance.

On the trade front, US President Donald Trump has urged the European Union to impose tariffs of up to 100% on China and India in an attempt to pressure Russian President Vladimir Putin to end the war in Ukraine. Growing unrest in the Middle East is also exacerbating geopolitical risks.U.S. Dollar Stabilizes Ahead of Key Economic Data:

According to forex market trading, the U.S. Dollar Index (DXY), which measures the performance of the U.S. currency against a basket of other major currencies, is stable near 97.8 points today, Wednesday, September 10, 2025. This comes after an increase in the previous session as investors await key U.S. inflation reports that could influence the Federal Reserve's monetary policy stance. The Producer Price Index (PPI) is scheduled for release later today, at 3:30 PM Egypt time, followed by the Consumer Price Index (CPI) on Thursday.

Yesterday, the Bureau of Labor Statistics reported that the US economy likely created 911,000 fewer jobs during the 12 months ending in March, or roughly 76,000 fewer jobs per month, indicating a weaker labor market than previously estimated. Combined with last week's weak August jobs report, the data reinforced expectations for a 25-basis point Fed rate cut next week, with some traders predicting a larger 50 basis point cut. Overall, markets are anticipating a 66-basis point rate cut this year.

Ready to trade today's Gold prediction ? Here's a list of some of the best XAU/USD brokers to check out.

MENAFN10092025000131011023ID1110044722