Gold prices continue to climb in an impressive show of strength, breaking through key resistance levels and edging closer to the psychological $3,500 mark. Despite minor pullbacks, the bullish momentum remains intact as investors position themselves ahead of a series of impactful U.S. economic events. As of today, XAUUSD is trading at $3,390, with bulls targeting $3,508 as the next significant level.
This article presents a detailed forecast for April 22–25, highlighting key technical levels and macroeconomic catalysts influencing gold’s trajectory.
Key Economic Events to Watch
The week ahead is packed with high-impact U.S. economic data, including:
- April 24: Flash Manufacturing and Services PMI
- April 25: Weekly Initial Jobless Claims
These reports will play a pivotal role in shaping gold’s short-term direction. Weaker-than-expected PMI or jobless data could raise concerns about economic slowdown, enhancing gold’s appeal as a safe-haven asset. Conversely, strong figures may bolster the U.S. dollar and briefly temper gold’s rise.
Expect cautious trading and potential volatility in the lead-up to these releases, as markets recalibrate their expectations regarding Federal Reserve policy and broader economic health.
High Timeframe (HTF) Technical Overview
Gold’s rally, which began in early 2025, has shown minimal signs of slowing down. Last week’s minor retracement was quickly absorbed, and prices surged again to close at $3,327. Following that, the price soared at Monday’s open, reaching $3,390 and aiming for the $3,400 level.
One important milestone is gold’s break above the 1.618 Fibonacci level at $3,298, which now serves as a flipped support zone. The next Fibonacci extension—the 2.618 level at $3,508—is the current target for bulls, indicating strong continuation potential.
Gold Price Forecast: April 22–25
Key Support Zones (Buy Levels):
- $3,266–$3,228 – This zone, a former resistance now acting as a support (breaker block), coincides with a 4H fair-value gap and is a strong point of interest for buyers.
- $3,166–$3,121 – A deeper retracement may reach this zone, aligning with a 4H order block and the 0.382 Fibonacci retracement at $3,135.
Buyers are encouraged to look for bullish price action signals in these areas and position accordingly.
Key Resistance Levels (Sell Levels):
- $3,508 and above – As gold is in price discovery, there are no historical resistances above this level. The 2.618 Fibonacci level marks the next significant upside zone.
Given the current market context, shorting gold is considered high-risk. Sellers should proceed with extreme caution and look for signs of exhaustion or reversal near major psychological levels.
Trading Strategy & Investment Outlook
The current market structure favors trend-following buyers. With gold’s bullish momentum firmly in place and macroeconomic uncertainty lingering, traders are advised to:
- Buy the dips at well-defined support zones
- Avoid premature short positions in the absence of reversal signals
- Monitor economic data releases closely for shifts in sentiment
Support Summary:
- $3,356 – Last week’s high and psychological support
- $3,266–$3,228 – Breaker block and fair-value zone
- $3,166–$3,121 – Deeper demand area with confluence
Resistance Summary:
- $3,508 – 2.618 Fibonacci extension (next target)
Gold’s bullish trend continues to dominate as macroeconomic uncertainty and inflation fears fuel safe-haven demand. With price discovery underway and bulls in control, the coming week offers promising setups for long-position traders particularly if volatility arises from the upcoming PMI and labor data.
As always, risk management and disciplined execution are key when trading gold in such high-momentum environments.
