Chart of the day - GOLD (27.06.2025)

Gold (GOLD) is down over 1.3% today, as traders take profits amid signs of easing global geopolitical tensions. Firstly, the situation in the Middle East appears to be gradually stabilising. In the short term, the market has shed its geopolitical risk premium, a trend also visible in oil prices.

• Notably, gold is undergoing a correction despite the dollar sell-off and a sharp drop in bond yields — which have fallen from 4.5% to 4.25% over the past month. This scenario may signal the growing influence of sellers, who now view the “anti-dollar” dynamic, nor 'dovish' Fed chair change next year and lower yields as insufficient catalysts for further upside in the short term.
• Meanwhile, China’s Ministry of Foreign Affairs released several market-positive statements today following diplomatic consultations with the United States in London. Beijing agreed to resume exports of strategically important materials to the U.S. — a move also highlighted yesterday by Donald Trump in reference to rare earth metals.

In response, the U.S. announced plans to ease export controls that had previously targeted Chinese firms. Markets are likely to interpret these developments as a clear signal of de-escalation, adding further pressure to gold prices in today’s pullback.

GOLD (D1 Timeframe)

The $3400 zone has now triggered strong selling pressure on three occasions, capping gold’s upside momentum. Medium-term correction targets may extend as low as $3000, aligning with the current position of the EMA200 (red line). That said, the U.S. fiscal outlook and broader strategic factors — including unresolved geopolitical tensions — remain structurally supportive. Despite the short-term cooldown, the long-term trend in gold remains upward.

Source: xStation5