Gold futures have maintained a position above the key $3,300 support level despite recent price consolidation. After reaching a record high of $3,509.90 on April 22, the June futures contract has established a narrowing trading range over five consecutive trading sessions.

Gold prices continue to demonstrate robust technical support above the $3,300 per ounce threshold, with traders remaining responsive to developments in U.S.-China trade relations. The market is characterized by strategic bargain-hunting and cautious sentiment as participants anticipate the release of several significant economic indicators later this week.

Gold's record-breaking ascent appears to have paused, though it still managed to create several historical milestones. On Monday, the most active June futures contract closed at an all-time high of $3,435.10. Tuesday saw June gold reach an unprecedented intraday peak of $3,509.90. For the week, however, June gold experienced a fractional decline of $11.10 (-0.33%), settling at $3,330.20.

Gold's record-breaking ascent appears unstoppable, with prices consistently surpassing historical price heights. The most active June futures contract recently reached a remarkable milestone, exceeding $3,500 per troy ounce as it traded to an intra-day high of $3,509.90 on Tuesday, April 22.

Gold futures briefly eclipsed the $3,500 per troy ounce yesterday before retreating as traders sold into the recent historical milestone taking gold lower, as well as a strengthening U.S. dollar. In addition, strong equities markets applied downward pressure on gold prices.

Gold futures briefly eclipsed the $3,500 per troy ounce milestone before retreating as a strengthening U.S. dollar and rallying equities markets applied downward pressure on precious metals. The benchmark June futures contract reached an unprecedented intraday peak of 

Gold prices surged to unprecedented heights, breaking through the $3,400 barrier for the first time in history as market turbulence followed renewed criticism of Federal Reserve policy by President Donald Trump.

Gold prices softened Thursday following yesterday's remarkable $110 gain, as traders prepared for the upcoming three-day holiday weekend. Market participants who had been actively trading gold futures sought to square their positions by taking profits and closing out long positions ahead of the extended break.

In a truly historic moment for precious metals markets, gold futures have surpassed the $3,350 mark for the first time ever. This remarkable achievement comes amid a perfect storm of economic factors, with the Trump administration's recent import tariffs and ongoing geopolitical tensions creating unprecedented demand for this safe-haven asset.

Record-Breaking Rally

Gold just posted its strongest weekly performance in five years, blasting through $3,240 an ounce before pulling back – and veteran technical analyst Gary Wagner says this move is unlike anything he’s seen in decades. With volatility rising across stocks, currencies, and bonds, Wagner warns that gold is forming a powerful new base – and the next leg higher may already be underway.