USA Intervenes, Halting Potential Conflict between Iran and Israel
Following the U.S.’s intervention, the impending war between Iran and Israel was put on hold.This move lead to a drop in safe-haven assets like gold and silver. The market sentiment for gold has now shifted towards selling, even though a partial rebound could occur. Let’s explore pivotal levels for trading gold this week, from June 30th to July 4th, 2025.
Major U.S.economic indicators for this week could considerably influence the XAUUSD prices.
- On Tuesday,Fed Chair Powell’s speech,ISM manufacturing PMI,and JOLTS job data will release.
- Wednesday sees the ADP Non-Farm Employment Change report.
- Thursday brings Average Hourly Earnings, Non-Farm Employment Change, Unemployment Rate, and ISM Services PMI data.
Depending on these reports, gold prices could swing. A dovish Powell speech or weak employment data may boost gold. Strong employment figures might weaken gold by strengthening the USD.
The month-end close today will shape July’s gold price direction. A bullish close could push gold toward $3441. Conversely, a bearish close might drag it down to $3122.
For detailed technical analysis, visit the XAUUSD weekly forecast: $3600 next target for gold?
Strategically, the $3320-3337 level seems ideal for shorting gold due to its significance in lower timeframes. Major buying opportunities appear around the $3232-$3202 range, suggesting higher timeframe bullishness.
