INSUBCONTINENT EXCLUSIVE:
Gold prices on July 2, 2025, demonstrated notable resilience, closing at $3,358 per ounce after a session marked by repeated attempts to
push the market lower.Despite a pattern of declines in previous days and weeks, gold reversed course and climbed, reflecting a shift in
market sentiment and a resurgence of buying momentum.The session began with gold trading near $3,328 per ounce, as investors weighed a mix
of macroeconomic and geopolitical factors
Early in the day, the market faced downward pressure, echoing the recent trend of profit-taking and cautious positioning.However, as the
session progressed, buyers stepped in, driving prices higher and overcoming the initial weakness
Several factors contributed to this renewed strength.The U.S
dollar continued to trade near a three-year low, making gold more attractive to international buyers and supporting demand
Central banks maintained their aggressive accumulation of gold, further tightening physical supply chains.Gold Defies Downward Pressure,
Signals Renewed Buying Momentum
(Photo Internet reproduction)The ongoing fiscal uncertainty in the United States, highlighted by debates over tax reforms and rising
revealed a clear rebound from support levels near $3,305, with the price testing and surpassing resistance at $3,344.The Moving Average
Convergence Divergence (MACD) indicator remained positive, though momentum showed signs of flattening
The Relative Strength Index (RSI) approached 62, indicating the market was nearing overbought territory.Bollinger Bands showed the price
near the upper band, suggesting increased volatility and the potential for further gains or a short-term pullback.On the daily chart, gold
continued to consolidate within a broad range, but the upward move on July 2 stood out against the backdrop of recent sideways trading.The
MACD on the daily timeframe remained bearish but showed signs of flattening, hinting at a possible shift in momentum
The RSI hovered near 54, reflecting a neutral stance but with a slight upward bias.Key support levels held firm at $3,331 and $3,286, while
resistance at $3,350 and $3,420 remained in focus
Market participants also monitored ETF flows, which had shown net outflows in recent months, signaling some profit-taking.However, the
renewed buying on July 2 suggested that physical demand and safe-haven flows continued to underpin the market, even as some investors
rotated out of gold-backed funds.Geopolitical risks, including ongoing tensions in the Middle East and uncertainty over U.S
fiscal policy, remained central to the market narrative
underlying demand and the continued relevance of gold as a hedge against uncertainty.
