By GoldFxPro | Analyst: Naveed Anjum | Updated: 5 November 2025
Gold price holds strong above 3,720$ amid Fed rate cut optimism and safe-haven demand.
Traders watch 3,730$ breakout for a possible rally toward 3,750$–3,770$ on XAUUSD.
Key Points
- Gold consolidates near $3,723, supported by strong trendline structure.
- Break above $3,730 could open the path toward $3,750–$3,770.
- Immediate support rests at $3,688–$3,692, with deeper cushion at $3,640.
- Fed’s cautious easing outlook and upcoming PCE data remain key catalysts.
- Triangle breakout pattern hints at continuation of bullish momentum.
GOLD Bulls Eye $3,750 Key Levels to Watch
If you’re trading or following gold (XAUUSD), things are looking interesting right now. The bulls are firmly in control and there’s a potential run toward $3,750–$3,770 looming. Let’s walk through what’s driving the momentum, the levels that matter, and how to approach the trade with both conviction and caution.
Where things stand
Right now, gold is holding near $3,723, showing strong resilience as traders ramp up for major events. On the 1-hour chart, price has held above a rising trendline, indicating buyers are still active. A breakout above $3,730 would be a trigger for the next leg up. On the flip side, if support near $3,692–$3,688 breaks, we may see a slide toward $3,640.
What’s fuelling the move
- Federal Reserve (Fed) cut hopes Markets are increasingly pricing in further rate cuts this year (with one likely in October, potentially another in December). That dovish tilt is gold-friendly.
- Weaker U.S. dollar As the dollar softens, the appeal of gold rises (especially for holders of other currencies).
- Safe-haven and geopolitical demand With global tensions elevated, central banks buying gold, and investors hunting for hedges, the backdrop is supportive.
- Upcoming data & speeches Eyes are on Jerome Powell’s comments and Friday’s PCE inflation report. A softer print boosts gold; a strong surprise could be a head-wind.
Short-term technical outlook
Bullish case:
- A decisive move above $3,730 paves the way toward $3,750 and then $3,770.
- Trendline support remains intact.
- Momentum remains with the buyers as long as we stay above $3,640.
Bearish case:
- If gold drops through $3,692–$3,688, then the next level to watch is $3,672, followed by the key trendline around $3,640.
- A daily close below $3,640 would shake up the bullish view.
Level Summary
| Level Type | Price Zone | Importance |
|---|---|---|
| Resistance 1 | $3,730 | Break-out trigger |
| Resistance 2 | $3,750 | Near-term target if breakout occurs |
| Resistance 3 | $3,770 | Extended bullish objective |
| Support 1 | $3,692 | First intraday buffer |
| Support 2 | $3,672 | Secondary short-term floor |
| Support 3 | $3,640 | Key trendline support zone |
Trading plan
Here’s how I’d play this if I were sitting in your shoes:
- Buy on dips above $3,692, with a target of $3,730–$3,750 and a stop-loss below $3,672.
- Only consider sells if price drops below $3,640, aiming toward $3,625 or $3,590 – but that would shift the structure to a bearish view.
- Keep an eye on the trendline support: as long as price holds above it, the upside scenario remains valid.
Outlook and mindset
At $3,723, gold is demonstrating strong upside momentum. The question isn’t if the price will move, but how and when. The bullish story remains intact as long as that critical support around $3,680-$3,692 holds. Break that and the bias shifts.
On the bullish side: a clean break above $3,730 opens the door to the $3,750–$3,770 zone. On the other side: if inflation data surprises upward, or the dollar rallies hard, the risk is more downside. Staying nimble is key.
Final thoughts
If your bias is bullish which in the current structure is a valid approach then staying above that key trendline near $3,640 matters. A clean breakout at $3,730 could set the stage for $3,750 or even $3,770. But remember: the market is watching inflation, the dollar, safe-haven flows and technical structure. If any of those shift, so may the trade direction.
Keep your risk defined, stay alert to breaks below support, and don’t get complacent just because the trend is up. Charts change, so be ready.
Is gold still bullish after crossing $3,720
Yes the bullish momentum is still valid provided price remains above support at $3,692.
What’s the key breakout number for XAUUSD
$3,730 is that line in the sand. Clear break above that brings $3,750–$3,770 into play.
What could trigger downside risk
A strong uptick in the dollar, bond yields, or a failure to defend $3,692 support could trigger a move toward $3,640 or lower.
What are the major events to watch this week
Look out for Fed Chair Jerome Powell’s remarks and the PCE inflation print the market will listen closely.
Is $3,640 a safe buy zone
It’s a strong buy on dip area as it aligns with the rising trendline support.But nothing is guaranteed use proper risk control.
