XAUUSD is trading near two-week highs, supported by increased demand for safe-haven assets, with prices currently at 3,380 USD. Discover more in our analysis for 7 August 2025.
XAUUSD forecast: key trading points
- US President Donald Trump imposed an additional 25% tariff on Indian imports
- The tariff hike intensified trade tensions and increased global market uncertainty
- XAUUSD forecast for 7 August 2025: 3,435
Fundamental analysis
XAUUSD quotes are moderately rising within a range with the upper boundary at 3,385 USD and the lower boundary at 3,355 USD. Prices are approaching a two-week high, driven by renewed safe-haven demand after US President Donald Trump imposed an additional 25% tariff on Indian imports. This move intensified trade tensions and increased uncertainty in global markets.
Gold also receives support from weak US macroeconomic data and signs of a labour market slowdown, boosting expectations of a Federal Reserve rate cut. According to CME Group’s FedWatch tool, markets now estimate the likelihood of a 25-basis-point rate cut in September at 93%, with the second cut increasingly priced in for December.
Since gold traditionally benefits from political uncertainty and low interest rates, the current easing of monetary expectations may support the weakened upward momentum in XAUUSD.
XAUUSD technical analysis
XAUUSD quotes are trading within a Triangle pattern, forming a signal for a potential upward breakout. Prices remain above the key 3,365 support level and the EMA-65, keeping buyers in control. Holding above the Moving Average confirms that the medium-term bullish structure persists.
The XAUUSD forecast suggests a breakout above the Triangle’s upper boundary and a move towards the 3,435 target. A consolidation above the 3,390 resistance level would confirm the market's readiness to maintain the upward momentum and increase interest in long positions.
The Stochastic Oscillator analysis shows a bounce from the support line, further indicating the resumption of the bullish movement.
Summary
The current fundamental landscape supports XAUUSD strength, with potential for further growth if prices break out of the consolidation range. Today’s XAUUSD analysis confirms the continued bullish impulse and suggests a likely breakout above the upper boundary of the Triangle pattern, followed by an upward move towards 3,435.
