Gold fails at $2475 once again


Gold daily

Gold is down 1% today after a third failure near $2475.

It’s still higher on the week after it shot up on Monday but it couldn’t get through the July highs and has since retreated. A big part of that is the market walking back its Fed rate cut expectations.

What’s hard to square is that Treasury yields are also falling and terminal Fed pricing hasn’t moved that much. I think the Middle East story is some of the froth in gold and the lack of action there (though still likely coming).

I think gold needs a clear catalyst to leg higher from here and I’m not sure a dovish Fed is it. Seasonally, there are tailwinds in November but that’s a long wait.

China clearly wants to add to reserves but now appears to be price sensitive. That will put a floor under gold but it could be as low as $2000 so it’s not a catalyst right now. Chine retail buying continues to be a strong force but could also be sensitive to technicals.

Overall, I think this is more of a ‘buy the breakout’ or a ‘buy a deeper dip’ trade than something to chase here.



  • Related Posts

    Moody’s chief economist warns of deepening housing market slump as 7% mortgage rates bite
    • July 14, 2025

    Moody’s chief economist Mark Zandi has escalated his warning on the U.S. housing market, shifting from a “yellow flare” to a “red flare” as conditions continue to deteriorate under the…

    Continue reading
    US equity index futures down around 0.5% after Trump 30% tariff threat against EU, Mexico
    • July 13, 2025

    US futures have begun trading on Globex for the new week. The big weekend news was Trump’s tariffs: Trump hits the European Union (EU) with a 30% tariff, starting on…

    Continue reading

    Random News

    Colin Allred enters U.S. Senate race in Texas

    • By gonews
    • July 14, 2025
    • 1 views
    Colin Allred enters U.S. Senate race in Texas

    Meta built its AI reputation on openness — that may be changing

    • By gonews
    • July 14, 2025
    • 1 views
    Meta built its AI reputation on openness — that may be changing

    When are the 2026 MLB Schedules Released?

    • By gonews
    • July 14, 2025
    • 2 views
    When are the 2026 MLB Schedules Released?

    LIVE BLOG: Major Resistance Operations in Gaza as Israel Continues to Erase Residential Areas – Day 647

    • By gonews
    • July 14, 2025
    • 1 views
    LIVE BLOG: Major Resistance Operations in Gaza as Israel Continues to Erase Residential Areas – Day 647