GoldFunding.io | Start Of Week Technical Analysis [08/09/2025]

Gold opened the week with strong upward momentum, extending its move beyond the previous all-time high near 3,500. After a quiet Asian session, price tested the former high around 3,575 and then pushed higher during the London and New York sessions. The chart remains bullish, but upcoming US data could bring fresh volatility and change the pace of the move.

Key takeaways

  • Gold broke above its previous all-time high near 3,500, reaching a new high around 3,647.
  • The former high near 3,575 acted as support when price returned to test it.
  • The US dollar has weakened, a factor that can support gold prices.
  • Upcoming US employment, inflation and consumer sentiment data may affect the market.
  • Strong momentum is not a guarantee of further gains; traders should plan for volatility and manage risk.

Gold pushes above its previous high

Gold had spent a long period consolidating below its earlier all-time high around 3,500. That ceiling has now been broken, with price moving to approximately 3,647. The new high is around 147 points above the previous one, marking a clear extension of the recent rally.

The move has been supported by a run of mostly bullish candles. Some smaller candles appeared as the New York session drew to a close, but the analysis notes that trading volume often eases at that time. Those quieter candles alone do not confirm that sellers have taken control.

The 3,575 level is a key area to watch

After the market opened, gold traded sideways during the low-volume Asian session. As London approached, price dropped back to around 3,575—the previous all-time high—and tested it as support. It then moved higher through the London and New York sessions.

A break above a former high followed by a return to test it is often watched as a possible continuation signal. In this case, the response at 3,575 coincided with further gains. The area is worth keeping on the chart for future reviews, though it should not be treated as guaranteed support.

The dollar and the economic calendar

The daily US dollar index chart showed a notable decline. Gold and the dollar often move in opposite directions: when the dollar weakens, gold can become more attractive to buyers using other currencies. This relationship is useful context, but it does not determine price direction on its own.

The analysis also flags several scheduled releases that could affect gold:

  • The annual revision to non-farm payrolls
  • Monthly producer price data
  • Consumer price index (CPI) inflation data
  • The preliminary University of Michigan consumer sentiment reading

News releases can cause quick price changes, wider spreads and less predictable movement. Traders may want to check the release times and decide in advance whether they plan to trade through the events or wait for conditions to settle.

What traders may watch next

At the time of the analysis, the overall chart structure remained bullish, with no clear sign of significant selling pressure. The video suggests that gold could continue higher and potentially test 3,700 during the week. That is a scenario, not a certainty: a shift in momentum or stronger selling could alter the picture.

For traders using a GoldFunding evaluation, this is also a reminder to keep position size and event risk within the rules. MatchTrader users can monitor price action while following the limits that apply to their account, including the 5% daily loss and 12% maximum loss rules. The 40% best-day rule is another condition to understand before choosing a trading approach. Compare the Classic and Rapid evaluation options at /checkout, and review the rules in the /faq before trading.

A strong trend can offer clear levels to monitor, but it can also tempt traders to chase price. A measured plan—and a willingness to step aside when volatility rises—matters as much as the direction of the chart.