Gold Forecast August 2025
Gold prices tested almost at all time high ( 23rd July 2025 ) due to uncertainty near tariffs. President Trump and White House already cleared that they don’t see any delay in deadline of 01st August. But we have seen this kind of statements and reversal from those statements in April and May as well.
Gold prices have gauged excellent uncertainty and keeping it higher despite a relief from Japan end. US announced trade deal with Japan. New trade deal seems like a one sided deal where Japan will invest $550B and also get tariff of 15%.
August is crucial month for gold prices as White House and Trump can’t keep extending tariffs forever and sometime they have to either impose tariffs on some countries who didn’t make deal or reverse it all together.
Inflation is also behaving like US administration. CPI have clocked highest numbers since February 2025 while PPI have cooled down. We need to see if tariffs are having any impact on inflation or not. Fed chairman didn’t give any definitive timeline to cut rates. However he indicated that Fed is willing to cut interest rate.
Another twist came in July when White House leaked news that Trump may fire Fed chairman. But as usual just like in TV dramas denial came right after few hours which reacted gold prices violently and gave many traders a shock.
August would finally see some closure ( hopefully ) in tariff department. Once uncertainty might be over and we may finally see some clear picture for gold prices.
Gold chart suggests a good support around 3250$. Once we close below this support then expect gold prices to drag down upto 3200$ and even 3100$.
Resistance on chart at 3450-60$ zone. Gold needs to close above 3460$ to give another push upto 3500$.
Non Farm Payroll numbers tanked below 100K and sent gold prices 2% highers. Despite that we are still nearly 100$ from all time highs.
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