FXEM - EMPIRE MARKETS - Company New Article
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Jul 10, 2025
Gold climbs as dollar weakens and data looms
Uncertainty drives investors to safe assets
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Today, global gold prices witnessed a slight increase, supported by a decline in the US dollar and a decrease in Treasury bond yields, amid a climate of caution prevailing in the markets ahead of the release of US unemployment data and the monetary policy decision of the Bank of Korea. Despite no surprising events occurring in the past hours, ongoing trade tensions and statements regarding the imposition of new tariffs between Washington and some Asian countries have contributed to pushing investors towards gold as a safe haven. Markets are now cautiously watching the developments in the economic and political scene, with demand for non-yielding assets, such as gold, increasing as uncertainty rises. |
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Gold continues to rise, driven by a weaker US dollar, with prices holding above 3320, reflecting clear buying momentum.
Technical indicators:
- The MACD is in the positive zone, supporting the upward momentum.
- The moving averages (50 and 100) indicate a continued positive trend as long as prices are above 3300.
Forecast:
- The positive scenario: Continued rise towards 3350 and then 3380 in the short term.
- The first support is at 3300, and a break above it could push the price to test 3275.