Gold Price Surpasses $2500 for the First Time

FXOpen

We noted bullish sentiment in the gold market six days ago:
→ The price is moving within an ascending channel (shown in blue);
→ Bulls may attempt to set a historic record amid the release of economic news.

As today's XAU/USD chart shows, the gold price has risen above the psychological level of $2500. This was influenced by last week's news, indicating that market participants expect the Federal Reserve to cut rates as early as September. Notably, important signals regarding U.S. monetary policy may be given later this week at the annual economic symposium in Jackson Hole, attended by finance ministers and central bank governors.

Technical analysis of the XAU/USD chart shows that gold continues to move within the ascending channel.

It's worth noting two historical records set this year – in May and July. In both cases:
→ The price encountered resistance at the upper boundary of the channel;
→ The RSI indicator entered the overbought zone;
→ The rise above the previous peak was minimal;
→ A subsequent decline to the median line of the blue channel followed (as shown by the arrows).

It’s possible that a similar pattern could repeat for a third time, considering that the $2500 psychological level might act in favour of the bears – similar false breakouts (but in reverse) were observed at the $2300 level in June.

Read analytical Gold price forecasts for 2024 and beyond.

Start trading commodity CFDs with tight spreads. Open your trading account now or learn more about trading commodity CFDs with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Stay ahead of the market!

Subscribe now to our mailing list and receive the latest market news and insights delivered directly to your inbox.

forex

Commodity CFD Trading with FXOpen

Commodity CFD Trading with FXOpen

  • Trade with tight spreads and low commissions
  • Choose from 4 trading platforms: MT4, MT5, TradingView, or TickTrader
  • Experience ECN technology for deep liquidity and light-speed trade execution
Learn more

Latest articles

Commodities

Crude Oil Price Hits New 2025 Low

As shown on the XBR/USD chart, the price of Brent crude oil dropped to $73.92 yesterday:
→ this marks a new low for 2025;
→ the decline since 15 January exceeds 9%.

Bearish sentiment is being driven by Trump's policies.

Shares

Ford (F) Share Price Drops to a 4-Year Low

As shown by the Ford (F) share price chart today, the price has fallen to $9.25 – its lowest level since early 2021.

This drop occurred following the publication of the quarterly earnings report on 5 February:

→ Earnings per share:

Forex Analysis

Yen and Euro Test Strategic Levels

The downward correction of the US currency, which began after the postponement of the tariffs announced by Trump, continues to gain momentum. The EUR/USD currency pair is trying to consolidate above 1.0400, sellers of USD/JPY have managed

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.