This week experts predict a negative trend for gold prices, although there may be fluctuations towards buying. The article discusses key events and trading strategies.
Key Economic Events This Week
Several significant economic reports from the U.S. are expected this week that may influence gold prices.
**July 9 – FOMC Meeting Minutes** Traders will carefully examine the tone of the minutes. A hawkish approach emphasizing inflation risks or further rate hikes may strengthen the dollar and push gold prices lower. Conversely, a dovish tone could lead to a weaker dollar and higher gold prices.
**July 10 – Unemployment Claims** An indication of a worsening labor market, which would benefit gold due to lower rate hike prospects, may occur if claims exceed expectations. Conversely, lower claims might exert short-term pressure on gold.
High-Level Overview of Gold Trends
Gold's current price has already tested the high of the May 2025 monthly candle, and from a technical perspective, it may come to test its low around $3122 before making an upward move towards its next all-time high.
Gold Price Forecast for July 7 to July 30, 2025
The nearest buying zone on the 4-hour chart for gold is around $3296-3274. Price can test it and provide a 100-300 point move to the upside.
The selling zone for gold is around $3332-3342, which is the supply area. The best level for buying on the weekly level is at $3204.
In conclusion, this week offers both buying and selling opportunities for gold. Lower time frames suggest sell positions, while higher time frames still favor buy positions.
