Key economic indicators and global events are continuously pushing the price of gold to all-time highs. While the bears are confident that the bullish momentum of gold is coming to an end, buyers are still eyeing the $3500 level next and possibly the $3800 level.
In this article, we’ll discuss the next possible move for gold from April 21st to April 25th and present you with key buying and selling zones.
Key economic events of this week
Several significant U.S. economic reports are scheduled for release this week, all of which might significantly impact XAUUSD.
The Flash PMI data for April 24 and the weekly US unemployment claims on April 25 are the most anticipated developments. Flash PMI data will provide information about the state of the manufacturing and services industries, and any indications of economic weakness could raise demand for gold as a safe haven. On the other hand, better-than-expected PMI data would support the dollar and lower the price of gold.
In the meantime, one of the most important indicators of the labor market is the data on jobless claims. An unexpectedly high figure would raise worries about a weakening economy, which would raise demand for XAUUSD as a hedge. However, a strong labor market would back the Fed’s higher-for-longer policy, which would put short-term pressure on gold. Given that price swings reflect changes in expectations regarding Fed policy and general economic sentiment, traders are probably going to exercise caution in the run-up to these events.
Gold HTF Overview
Since the start of this bullish rally from the start of 2025, gold has barely given any relief to sellers and continued at an unprecedented buying momentum.
Gold did see a minor retracement last week, but sharply reversed back and closed at $3327. At market open today, it flew further and is now trading at $3390, targeting the psychological level of $3400.
It should also be noted that gold has already tapped the $3298 level, which was its 1.618 Fibonacci level. It has now flipped that and is eyeing the 2.618 fib level, which sits at $3508. Since the trend is bullish, any retracement from key points of interest (POIs) can push gold to $3508 this week.
Gold Forecast for April 22nd to April 25th
The first major buying level of gold is the 4h breaker block, or in easier terms, the resistance that has broken and now is expected to work as a buying support. These buying levels are also colliding with the 4-hour fair-value gap, making it more of a good POI for buyers. This important level is coming at $3266-$3228. You can look for signs of strength at this level and enter a buy position.
If gold decides to dive further and offer a deeper correction, the next strong POI is the 4hr order block of $3166-3121, which is coming at the same place as the 0.382 fib zone, which is at $3135.
Selling levels in gold are non-existent as gold is in price discovery, and any selling would be considered high-risk for now.
Trading Strategies & Investment Recommendation
To conclude, the safe strategy in gold is to buy and wait for key support levels. If you are still interested in selling, keep your risk low and wait for key resistance levels. Here is a summarized version of key support and resistance levels that you can mark on your chart.
Support Levels
- 3,356: Previous week’s high and close to 3350, which is a psychological support.
- 3,266–3,228: Strong breaker block and liquidity area.
- 3,166–3,121: Critical demand zone if deeper retracements occur.
Resistance Levels
- 3,508 and above: 2.618 fib level
Gold continues to ride its bullish wave with momentum, and this week could offer fresh opportunities for trend-followers. Buyers should look to enter at well-defined support zones, especially if volatility kicks in around the upcoming economic data.
