Gold eyes breakout above $3375 – Société Générale

FXStreetJul 21, 2025 10:46 AM

View all comments（0）



Gold is consolidating below key resistance at $3375, with technical indicators hinting at renewed bullish momentum. A breakout could open the path toward $3450 and April’s highs near $3500, while $3280 remains crucial support, Société Générale's FX analysts note.

Momentum builds as Gold consolidates

"Gold entered a consolidation phase after encountering strong resistance near $3500 in April. It has recently formed a base with an upper limit around $3375. The daily MACD is above the equilibrium line and its trigger, denoting a resurgence in upward momentum."

"A break above $3375 could signal the resumption of the uptrend, with the next objectives at $3450 and the previous peak near $3500/3520. The recent pivot low at $3280 serves as a key support level."

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

【US Pre-Market】US Futures and Chip Stocks Fall as Global Bond Sell-Off Deepens; Gold Drops Below $4,400, Brent Crude Tops $92

TradingKey - On Tuesday (September 1) Eastern Time, futures on the three major U.S. stock indexes fell across the board in pre-market trading. Geopolitical risks escalated sharply after two supertankers were hit by unidentified projectiles in the Strait of Hormuz, driving international oil prices further up. Meanwhile, the global bond market sell-off persisted, pushing long-term government bond yields in major economies to multi-year highs and significantly dampening market risk appetite.

Why Are Three Major US Stock Index Futures Under Pressure to Start September? Nvidia, Apple, Tesla, Micron in Focus

TradingKey - On the first trading day of September, U.S. stock futures moved lower across the board in pre-market trading. As of press time, Dow Jones Industrial Average futures and S&P 500 futures both fell by about 0.55%, while Nasdaq 100 futures dropped approximately 1.05%. Rising oil prices, higher U.S. Treasury yields, and heightened tensions in the Middle East combined to weigh on risk appetite.

The Week Ahead: August Nonfarm Payrolls Data Incoming, Broadcom, Dell, Palo Alto Earnings Set for Release

TradingKey - In the coming week (August 31 to September 4), market focus will gradually shift to the August non-farm payrolls report. As the final monthly employment report before the September FOMC meeting, the non-farm data will serve as a crucial basis for assessing U.S. labor market conditions and the Federal Reserve's policy path in September.

Gold Price Forecast: Ahead of Warsh's Jackson Hole Speech, Is Gold's Next Target $4,500 or $4,700?

TradingKey - As of the Asian session on August 28, gold prices (XAUUSD) were trading near $4,580 with a downward tilt. Gold had previously approached $4,700, but with U.S. inflation remaining elevated and several Federal Reserve officials delivering hawkish signals at the Jackson Hole symposium, market participants reduced long gold positions ahead of a speech by Fed Chair Kevin Warsh, causing gold prices to pull back from their highs.

Bitcoin Price Prediction: BTC Breaks $80,000 Mark, What Does It Mean?

If Bitcoin holds firmly above $80,000, it suggests a strong market risk appetite has been established. Capital is expected to follow the rotation path and spread toward major Layer-1 public chains such as Ethereum (ETH), Solana (SOL), and XRP (XRP), while also signaling a shift in technical resistance levels.

Featured Tools