Gold Struggles at $3,331 Despite Dollar Weakness: What's Holding It Back?
Bullion hits resistance despite USD weakness
Gold (XAU/USD) hovered near $3,331 per ounce today, unable to capitalize on a softer U.S. dollar and falling Treasury yields. Despite the greenback testing three‑and‑a‑half‑year lows, the metal failed to break out.
U.S. data builds headwinds for gold
Strength in U.S. economic reports—especially robust durable goods orders and jobless claims—blunted bullion’s rally. Coupled with the U.S. Q1 GDP downgrade, these mixed signals capped further upside.
Fed policy and geopolitical calm cool bullish fever
Mounting uncertainty around Fed leadership and rate‑cut timing kept investors cautious. Meanwhile, easing Middle East tensions reduced demand for safe-haven assets like gold.
What traders should watch next
Key levels to track are support around $3,300–$3,322 and resistance at $3,368–$3,370. If gold breaks above, the next milestone is $3,400–$3,450. But a drop below could open the door to $3,245–$3,200. Upcoming U.S. PCE inflation data will likely set the next direction.