Why $3200 Gold is the New Avocado Toast (and Probably Just as Overpriced)

In case you enjoy the kind of financial whiplash that only gold can provide (me, I prefer the splash of cold water I get whenever my credit card gets declined at my local bakery), let’s revisit what happened last week. The golden child of precious metals, XAUUSD, slunk into the $3200s in a display of drama that would embarrass a Real Housewife. Apparently, the world collectively exhaled about global tensions—tariffs, specifically—causing everyone to dump their safe-haven assets faster than they unfollowed Elon Musk in March. Suddenly, risky assets like stocks, crypto, and, I can only assume, NFTs of cats in blazers, were somewhat in vogue.

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This week, gold is apparently going to “consolidate”—which, I’m told, is like a spa weekend for commodities. All of this is, of course, in the brooding shadow of the upcoming FOMC event, where men in suits will use words like “quantitative” and “outlook” while bored traders pretend to take notes. So, let’s dissect all the juicy XAUUSD gossip, and try to get through it without banging our heads on the keyboard.

Review: Last Week’s Gold Soap Opera

If you were brave or easily influenced enough to try last week’s forecast, and you sold from the $3342-$3353 levels, you saw over 1500+ points drop in gold. If you didn’t, you spent the week resentfully watching others buy another Birkin bag. 🙃

Also, if you trusted the forecasted buy zones between $3247-$3193, congrats on your 900+ points ride. I hope you celebrated by upgrading your instant ramen to organic.

Anyway, time to sneak a peek at the next installment of This Week in Making or Losing Money.

Upcoming Economic Shenanigans

The United States, always eager to release reports that confuse both pundits and mortals, gives us the following calendar:

Monday, May 5, ISM Services PMI:

A peek into how the services sector is feeling. If the numbers are down, gold gets fancier; if things look better, gold price becomes as exciting as lukewarm soup.

Wednesday, May 7, FOMC Press Conference:

The Federal Open Market Committee does its thing, and everyone hopes some sassy banker says something that moves the markets enough for you to regret trading before caffeine.

Thursday, May 8: Unemployment Claims:

Few things strike fear into gold than rising unemployment. Or maybe that’s just me, watching my bank account as the number of people seeking benefits increases. If jobless claims rise, gold could become the comfort blanket of finance again. 🥱

Gold on the Couch: HTF Therapy Session

Gold closed the past two weeks looking like it went on a juice cleanse—or just skipped dinner. Now, it’s trying to put on some muscle. There’s a mysterious phenomenon called “weekly FVG” still pending (think unresolved childhood trauma) and experts say once it’s “filled,” you might see gold bench-press itself to new highs. The emotional support range is $3194-$3168; that’s where the market likes to play Dr. Phil and talk you into a buy position.

The May 5th-9th Rollercoaster

Gold sashayed into the week as if nothing happened—bullish momentum, they call it. But above $3300, there’s a cluster of supply that could swallow your hopes as efficiently as the TSA swallows your artisanal jams. The 4-hour timeframe has a buy zone at $3259-$3239, complete with enough jargon (FVG, VAL, order block) to confuse your uncle who still buys paper savings bonds.

Thinking about a short? The $3305-$3313 area is basically a wall—they call it POC, but it might as well be DOA for optimistic bulls.

Handsome Trading Strategies You’ll Probably Forget

The artful (lazy) approach: shop for buys in the long-term, and panhandle for sells in the short. Mark these levels on your chart, your mirror, or your therapist’s notepad. Here’s what to tape to your forehead:

Support Levels

$3194-3168 — weekly FVG (the emotional comfort zone)
$3259-3239 — 4h FVG and VAL (where the cool kids hang out)

Resistance Levels

$3305-3313 — 1hr OB and POC (the party nobody wants to be at)

2025-05-06 03:44