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Limited correction as markets await Fed policy

Gold eases as markets await policy signals

Gold prices retreated slightly today, April 23, 2025, after a sharp rally that brought them to historic highs near $3,350 per ounce. This decline comes amid normal profit-taking, as investors await potential statements from Federal Reserve officials that could impact the direction of the dollar and interest rates. Gold's decline is not a trend change, but rather a technical correction after consecutive gains. Markets are awaiting signals regarding the direction of US monetary policy. Continued inflationary pressures and geopolitical concerns could restore momentum to gold.

Gold Technical Analysis:

• Current Price: $3,334 per ounce
• After a strong upward trend that pushed it above 3,350, gold has begun to move in a sideways range with a slight tendency for correction.
• The current decline is a corrective movement, not a change in trend.
• The overall momentum remains positive, supported by a weaker dollar and market fears of a global economic slowdown.

🔸 Positive Scenario (Potential Upside):
If gold maintains stability above 3,320, we may witness a gradual return to the upside, targeting levels near 3,360 and then 3,388 in the short term.

🔹 Negative Scenario (Deeper Correction):
If gold breaks below 3,320, the technical decline may extend towards 3,295, a level that may attract renewed buyer interest.

Influencing Factors:

• Any hints of US monetary policy easing support gold.
• Continuing geopolitical tensions and a global slowdown maintain gold's appeal as a safe haven.