Gold Technical Analysis Summary

Date: September 7, 2025

Author: Giuseppe Dellamotta

Market Overview

Gold prices are currently rangebound as traders await new catalysts to determine the next market direction. Following the Non-Farm Payroll (NFP) report, a hawkish shift in interest rate expectations has placed downward pressure on gold. Traders are now looking ahead to the upcoming US Consumer Price Index (CPI) report, which is expected to influence gold's trajectory.

Technical Analysis

Daily Timeframe

On the daily chart, gold has retraced to a significant upward trendline. This area is anticipated to attract buyers, who will likely set their risk just below the trendline in hopes of a rally towards new all-time highs. Conversely, sellers are poised to capitalize on a potential break below this trendline, targeting a drop to the 3120 level.

4-Hour Timeframe

The 4-hour chart indicates that gold is testing the trendline's support. However, the lack of momentum suggests that this may not be a genuine breakout. Sellers are expected to continue entering the market around these levels, with defined risk above the trendline, aiming for the 3120 target. Buyers, on the other hand, will seek a price recovery above the broken trendline to reinforce their bullish positions.

1-Hour Timeframe

In the 1-hour chart, momentum appears to be diminishing near the trendline. From a risk management perspective, sellers may find a more favorable risk-to-reward setup around a minor downward trendline, positioning for a break below the major trendline. Buyers will look for a breakout above the minor trendline to increase their bullish bets towards new highs. The red lines on the chart represent the average daily range for the day.

Upcoming Catalysts

Traders should also monitor the upcoming US Jobless Claims figures and any developments regarding tariff headlines, particularly as political dynamics evolve.