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Gold's (XAU/USD) Whipsaw Price Action a Sign that Bulls are Back at the Table. $3400/oz Up Next?
Gold prices have seen whipsaw price action today with a $30 drop being wiped away after the US open. Part of this could be down to another poor US data point which will only add to rate cut bets moving forward. The US ISM Services PMI dropped to 50.1 in July 2025 from 50.8 in June, falling short of the expected 51.5. This shows the services sector barely grew, with seasonal and weather issues affecting business. There was a slowdown in business activity (52.6 vs 54.2), new orders (50.3 vs 51.3), and inventories (51.8 vs 52.7). Meanwhile, price pressures increased to their highest level since October 2022 (69.9 vs ... (full story)
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- Aug 5, 2025 2:45pm Posted byTechnical Analysis276
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