April 22, 2025, gold prices are trading around $3,444 per ounce, showing a modest gain of about 0.57% intraday, with a high near $3,510 and a low around $3,420. The price recently touched the $3,500 level but retreated slightly due to overbought technical signals and a rebound in the US Dollar.
Gold remains in a strong uptrend, supported by geopolitical tensions, US-China trade war concerns, and uncertainty over Federal Reserve policies, especially amid President Trump's criticism of Fed Chair Jerome Powell and calls for interest rate cuts. These factors are fueling gold's appeal as a safe-haven asset, with prices having surged nearly 30% year-to-date and breaking inflation-adjusted records.
Technically, gold faces resistance near $3,500 and $3,550, while support levels to watch are around $3,400 and $3,330. The 14-day RSI indicates overbought conditions, suggesting possible short-term corrections, but overall bullish momentum remains intact.
In summary, gold is positioned near historic highs driven by macroeconomic and geopolitical uncertainties, with potential for further gains if safe-haven demand persists, though short-term pullbacks may occur due to technical overextensions.
