Gold: Some clarity – OCBC

FXStreetAug 12, 2025 8:38 AM

View all comments（0）



President Trump wrote on Truth Social that imports of gold will not be tariffed, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Mild bullish momentum on daily chart fades

"This helped to remove earlier confusion when media earlier reported that 1-kg and 100-oz gold bar imports from Switzerland will be tariffed at 39%. Nevertheless, there is still no formal update/ executive order passed on this. Near term, US CPI and market expectation of Fed cut trajectory may also influence gold outlook."

"XAU was last seen at 3351. Mild bullish momentum on daily chart faded while decline in RSI moderated. Key area of support around 3340/50 (21, 50 DMAs). Decisive break puts next support at 3290 levels. Resistance at 3450, 3500 (2025 high)."

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

AMD Shares Surge Over 7% to Record High. Morgan Stanley Expects Sixth-Generation CPU “Venice” Shipments to Fully Overtake Nvidia Vera

TradingKey - On June 30, Eastern Time, AMD (AMD) hit an intraday historic high of $579.73. As of press time, it rose over 7% to report at $577.61. Notably, Wells Fargo raised its price target for AMD from $505 to $615, an upward adjustment of over 21%, while maintaining an "Overweight" rating.

US Stocks Close: Nasdaq Rises Over 2%, Philadelphia Semiconductor Index Rises Over 3%; Tesla Rises Over 8%, Space Stocks, Tech Stocks Lead Gains

TradingKey - On Monday, June 29, Eastern Time, market sentiment rebounded as the US and Iran returned to the negotiating table, lifting all three major indices, with space and technology stocks leading the gains. At the close, the Dow Jones Industrial Average rose 0.59% to 52,182.74 points; the Nasdaq Composite Index gained 2.07% to 25,820.14 points; and the S&P 500 Index rose 1.18% to 7,440.43 points.

Tesla Stock Rises 5% to Reclaim $400 Mark; Musk Claims New AI Surpasses Claude, Morgan Stanley Raises Q2 Delivery Estimates

TradingKey - On June 29, Eastern Time, Tesla (TSLA) shares reclaimed the $400 mark, rising 5.83% to $401.84 as of press time. Tesla is scheduled to release its second-quarter delivery report this week, with Wall Street investment banks expecting deliveries to beat market expectations.

Gold Price Forecast: Does Gold Falling Below $4,000 Mean the Bull Market Is Over? Will It Still Rise in the Second Half of 2026?

TradingKey - Heading into the second half of 2026, the gold market has transitioned from a strong performer early in the year to an asset undergoing a high-level correction. Recently, gold prices fell below the $4,000 threshold for the first time since November 2025, down approximately 29% from the all-time high of $5,597.91 reached in January. On the surface, gold seems to have entered a period of distinct weakness. However, looking at the full-year horizon, can gold still rise in 2026? The answer is that while short-term pressure persists, there are still opportunities for a medium-term recovery, and the long-term bullish thesis remains intact.

US Copper Tariffs Finalized on June 30; COMEX Inventories Hit Record 650,000 Tons, Goldman Expects Copper May Breach $14,000 After Tariffs Take Effect

TradingKey - The countdown has begun for the U.S. copper tariff decision. The U.S. Department of Commerce must submit its "Section 232" investigation report to the White House by June 30 to ultimately decide whether to impose import tariffs on refined copper.

Featured Tools