Gold Holds Near Two-Week High as XAUTUSDT Bulls Target 4800

Gold prices are staying strong, holding near a two-week high, as expectations around the Fed and global political events offer support.

Gold, which we also call XAU/USD, is showing a bit of strength during Asian trading on Friday. It's almost at the highest point it's been in over two weeks, a level it hit on Thursday. Even though things are getting tense again near the Strait of Hormuz, people in the markets are still hoping the US and Iran might work out a peace deal.

This hopeful mood has caused crude oil prices to drop again. This, in turn, helps calm worries about inflation and makes people think the US Federal Reserve might not be as tough as once expected. Because of all this, the US Dollar is finding it hard to get stronger, and that's good news for gold prices.

The global political situation isn't straightforward; it's a bit of a mixed bag. US Central Command confirmed that American forces attacked Iranian military locations because they were connected to attacks on ships passing through the Strait of Hormuz. Iran claimed the US broke the ceasefire. However, President Donald Trump stated the ceasefire is still on and that if it were to collapse, everyone would know. The US military also mentioned they aren't looking to make things worse. This helps keep the demand for the Dollar as a safe asset in check, which then supports gold prices.

On the other hand, oil prices didn't manage to keep up their rebound from Thursday, even with global political risks still being high. Trump warned that the US might react more strongly if Iran doesn't agree to a deal pretty soon. Meanwhile, the US economy is holding up well, and inflation isn't going away easily. This keeps pushing back when people expect the Fed to cut interest rates; now, markets are thinking it won't happen until late 2027 or early 2028. This situation could stop the US Dollar from falling much further and also put a cap on how much gold prices can aggressively rise.

Everyone in the markets is now watching for the US Nonfarm Payrolls (NFP) report, which is coming out later today. People are expecting about 62,000 jobs were added in April, which is a big drop from the 178,000 jobs reported before. The unemployment rate is predicted to stay at 4.3%, and yearly wage growth is estimated to be 3.8%. This report could really sway what people expect from the Fed, how the US Dollar performs, and where gold prices go next.

XAUTUSDT is getting stronger, and buyers are aiming for 4800.

Looking at the 4-hour chart, XAUTUSDT is showing a solid comeback after bouncing strongly from the 4500 support level. Buyers quickly took charge again, and now the price is staying above 4700, trying to break through a group of resistance points nearby.

This recent price increase seems to be driven by real momentum, not just a short-term rebound. The MACD indicator is still strongly bullish, showing signal lines spreading out and histogram momentum getting stronger. This usually suggests the trend will continue as long as the price stays above its short-term support.

Here are some important levels to keep an eye on:

Resistance: 4725–4760

Major supply zone: 4800–4865

Support: 4650–4620

Strong base support: 4500–4530

If buyers can get the price back above 4760 and keep it there, the next move up could reach past the 4800 mark. But remember, that area has been a tough spot for selling pressure before, so we might see some sideways movement or a quick dip first.

As long as the price stays above 4650, buyers will likely have the upper hand in the short term. If the price drops below that point, the recovery could lose steam, and we might see it settle into a wider trading range again.

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