Gold (XAUUSD) prices dropped to 3,270 USD. The easing of tariff risks has dampened demand for safe-haven assets. Discover more in our analysis for 29 May 2025.
XAUUSD forecast: key trading points
- Gold (XAUUSD) quotes are falling for the third consecutive day as risk appetite grows
- Strengthening of the US dollar adds to pressure on gold
- XAUUSD forecast for 29 May 2025: 3,244 USD
Fundamental analysis
Gold (XAUUSD) fell to 3,270 USD on Thursday, marking its third consecutive daily decline. The main trigger is the fading concern over tariffs, which has reduced demand for safe-haven assets.
The sell-off intensified following a ruling by the US Court of International Trade, which determined that President Donald Trump had overstepped his authority in imposing retaliatory tariffs on trade partners. The court ordered these measures to be cancelled and permanently blocked. The White House is expected to appeal, but for now, the decision deals a significant blow to the Trump administration’s economic policies.
The latest FOMC meeting minutes revealed that the Federal Reserve is maintaining a cautious stance as it assesses the impact of recent policy decisions, mainly those related to tariffs. The document also highlighted rising risks of inflation and unemployment.
Globally, the removal of tariffs on precious metals has led to a sharp increase in gold exports from the US to Switzerland in April, slightly shifting global supply dynamics.
The gold (XAUUSD) forecast is bearish.
XAUUSD technical analysis
On the Gold (XAUUSD) H4 chart, conditions are forming for a retest of 3,244 USD, last day’s low. If market sentiment continues to favour risk assets, the next sell-off target could be 3,216 USD.
Summary
Gold (XAUUSD) prices are dipping sharply as market sentiment swings in favour of risk assets. With safe-haven demand declining, the gold (XAUUSD) forecast for today, 29 May 2025, suggests a potential revisit of the local low at 3,244 USD.
Source: Roboforex
