The latest report by Bybit, the world's second-largest cryptocurrency exchange by trading volume, raises questions about the appeal of gold as a safe-haven asset amidst macroeconomic uncertainty. Price levels and market sentiments indicate possible movements in gold following expected macroeconomic events.
Key Highlights of the Report
The report highlights several key points:
* Gold peaked at $3,500 per ounce on April 22, 2025, and is currently trading around $3,365. * Since May 20, 2025, trading has remained within a range of $3,274 support and $3,443 resistance. * The Relative Strength Index (RSI) indicates a level of 50, while the MACD is flat, suggesting balanced market forces and potential price growth.
Gold Market: Current Price Levels
Gold is showing neutral momentum, indicating scope for market breakout. Key factors that could lead to sharp price swings include:
* Inflation: The inflation report is expected on August 12. * Tariff deadlines and the Federal Reserve's decision set for September 17.
Future Risks and Opportunities
Macroeconomic uncertainty is heightened by a slowdown in U.S. hiring rates, which has fueled expectations of interest rate cuts. Therefore, market participants may consider diversifying their assets. Silver, currently trading at $40, also has the potential to retest its all-time high of $50 per ounce.
The gold market exhibits resilience against the backdrop of current macroeconomic uncertainty. The upcoming weeks could influence further price movements, while investors may look to diversify their portfolios through investments in gold and silver.
