As mentioned in the previous XAUUSD weekly forecast, the trend of gold has shifted to sell, as the global tensions between Iran and Israel eased.
The bias in gold for this week is sell, but it can change mid-week to buy as well. With that in mind, let’s discuss the key pivot levels for gold buying and selling in this XAUUSD weekly forecast from July 7th to July 11th, 2025.
Key economic events of this week
Some significant U.S. economic reports are scheduled for release this week that are expected to impact XAUUSD.
Wed, Jul 9 – FOMC Meeting Minutes
The tone of the minutes will be carefully examined by traders. A hawkish approach, which emphasizes inflation risks or additional rate hikes, might make the USD stronger and drive gold lower. The dollar would probably decline, and gold prices would rise in a dovish or split tone.
Thu, Jul 10 – Unemployment Claims
A worsening labor market, which would be good for gold because of lower prospects for rate hikes, may be indicated if claims are greater than anticipated. Short-term pressure on gold could result from lower claims, which would benefit the currency.
Gold HTF Overview
The high of the May 2025 monthly candle has already been tested by the June candle and now from a technical perspective price can come to test its low which is around $3122 before making a move up to its next all-time high.
Gold Forecast for July 7th to July 30th, 2025
The 4h order block in gold is the nearest buying zone, which is around $3296-3274. Price can test it and give 100-300 points move to the upside.
The selling zone in gold is around $3332-3342, which is the 1-hour breaker block and supply area for gold.
Weekly level of gold is the best buying zone in gold, which is coming at $3204.
Trading Strategies & Investment Recommendation
To conclude, gold can give both buys and sells this week. Lower time frames are suggesting sells, while higher time frames are still favoring a buy position in gold.
Resistance Levels
- $3332-3342 – 1h breaker block and supply
Support Levels
- $3296-3274 – 4h order block
- $3204 – weekly level
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
