Current Price Snapshot
Spot gold is trading around $3,350–$3,355 per ounce globally.
In the UAE, that translates to about AED 12,289–12,340 per ounce (~AED 389 per gram).
Macro & Market Context
Gold is up ≈27% year-to-date, outperforming many asset classes in 2025.
Ongoing global trade tensions (e.g., US tariffs on EU/Mexico) are fueling safe-haven demand, pushing prices to recent 3‑week highs (~$3,354 per oz).
Central bank purchases remain robust (~1,000 t per year), signaling sustained institutional interest.
However, some analysts forecast a near-term pullback, noting fading momentum since April’s $3,500 peak.
Technical Analysis
| Indicator | Current State | Implication |
|---|---|---|
| Trend channel | Uptrend from $3,286–3,301 support | Neutral–Bullish |
| Targets | First: $3,368; then June high at $3,451; breakout zone $3,570–3,585 | Potential upside |
| Support levels | $3,286–3,301 | Key for dips |
| RSI | Around mid‑60s, shifting down from 70 | Cooldown from overbought |
| MACD | Slightly bearish crossover | Limited momentum |
| Bollinger Bands | Narrowing | Breakout potential pending |
Interpretation:
- Price remains above important supports → retains bullish bias.
- A resistance breakout above ~$3,452 could trigger extension toward $3,570+.
- Conversely, slip below support (~$3,286) might drag prices toward a correction zone of ~$3,200–$3,226.
Market View & Strategy
- Short-term: Trading is in a consolidation-to-bullish phase—dips may offer good entry points.
- Medium-term: If global tensions or rate uncertainties persist, further upside to $3,450–$3,600 is plausible.
- Risks: A stronger dollar, surprise Fed rate decisions, or easing trade tensions could weaken momentum.
- Analyst outlooks: HSBC raised average forecasts to $3,215–$3,125 for 2025–26, but warns of a ~25% correction risk
