Gold - Overview as of 05.05.2025

Financial and commodity markets analytics


Gold met support near $3220, which we wrote about earlier. However, within the downtrend the observed growth is only a correction. The area of $3270-3350 acts as resistance and is likely to provoke the activity of sellers.The attention of market participants is focused on the decision of the US Fed on the rate.US President Donald Trump said that he is not going to dismiss Jerome Powell from the post of the head of the Fed before the expiration of his term in 2026. At the same time, he reiterated his call for the Fed to cut rates. Gold is traditionally in demand in a low interest rate environment.Amid expectations of the Fed's decision and the outcome of international trade talks, the market remains in a state of uncertainty. At the same time, Chinese markets are closed from May 1 to May 5 due to the Labor Day celebration, which should be taken into account when planning transactions, including the risks of lack of liquidity.