Gold Hits $3,480 as Rate-Cut Bets Surge: 3 Trade Levels to Watch Now
Gold has surged to $3,480, its strongest run in months as investors bet on rate cuts and safe-haven demand...
Quick overview
- Gold has reached $3,480, driven by investor expectations of rate cuts and increased safe-haven demand.
- The price is confirmed in a rising channel with strong bullish signals, including a golden cross in moving averages.
- Current support is at $3,466, while resistance levels are identified at $3,500 and $3,535.
- Traders are advised to consider dip buying at support levels rather than chasing breakouts to manage risk effectively.
Gold has surged to $3,480, its strongest run in months as investors bet on rate cuts and safe-haven demand. After breaking out above $3,437, the uptrend that started in mid-August is confirmed. Technicals point up, but momentum is stretched so timing is key for traders.
Rising Channel Guides Price Action
On the 2 hour chart, gold is still in a rising channel, making higher lows and higher highs. The breakout candle was a big bullish engulfing bar, showing strong buying conviction. The 50 period moving average has crossed above the 200 period average, a golden cross that often precedes big trends.
📊 Gold hits 4-month high near $3,470 on Fed rate-cut bets (87% odds of 25bps). Weak USD adds support. Silver tops $40 (2011 high). Technicals: key zone $3,470-$3,480—break could test $3,500, supports $3,440-$3,450. Bullish momentum stays strong. 🚀
— NovaTradeX (@Nova_TradeX) September 1, 2025
For context, similar channels earlier this year delivered $70 moves and this one is looking similar. Support is at $3,466 and resistance is at $3,500 and $3,535.
Gold Momentum Signals Overheating
RSI is above 74, overbought territory. In strong trends RSI can stay overbought for longer before a pullback. MACD is confirming the bullish setup, with widening histogram bars and both lines going up. Together these signals say momentum is still with the bulls, but short term consolidation is likely.
Key points for traders:
- RSI >74 is overbought, watch for pauses.
- MACD expansion is strong bullish pressure.
- Support: $3,466 | Resistance: $3,500-$3,535.
Gold Trade Levels to Watch
For new traders the best trades often come from dip buying rather than chasing breakouts. A retest of $3,466 support (previous resistance) could be a good entry. A stop below $3,437 protects against false breakouts. Upside targets are $3,500 first and $3,535 if momentum continues.
In practical terms this means be patient. Buying at support levels with clear risk management is a defined framework, chasing prices at highs can expose you to bigger pullbacks.
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