Gold Market Update – April 23, 2025
Short-term sentiment: Bearish
Gold is cooling off after a strong rally, dropping nearly 2% today and trading around $3,318. The metal hit resistance near $3,500 and is now testing key support at $3,300. If this level breaks, the next downside target sits near $3,245.
What’s driving the dip?
Reduced geopolitical tension, stronger risk appetite, and a rebound in the U.S. dollar are pressuring safe-haven demand.
While the long-term trend remains bullish, the short-term outlook suggests caution as the market corrects #GOLD_UPDATE from overbought levels.
Key levels to watch:
Support: $3,300 → $3,245
Resistance: $3,380 → $3,500