Gold (XAU/USD) has managed to bounce from a multi-week low following a period of significant pressure, but its recovery is confronting strong resistance levels and an overall bearish outlook. After tumbling to the $3,268 per ounce support area, the precious metal found some buying interest and has stabilized near $3,305. The broader trend remains downward, influenced by stronger US economic data, a firmer dollar, and ongoing trade tensions.

Multiple technical indicators point to limited upside in the near term. Gold faces immediate resistance at $3,335, followed by tougher barriers at $3,360 and $3,385. Unless it can decisively break above these levels, sellers are likely to remain active, especially as the bearish trendline on the daily chart remains intact. The bearish momentum is further reinforced by the Relative Strength Index hovering in neutral territory, with room for further declines.

Should gold prices slip below the key $3,270 support, the next downside targets to monitor are $3,220 and $3,180. On the flip side, a sustained move above $3,360 could provide some relief and open the path toward $3,400, though market participants remain cautious.

The recent rebound in gold was partially driven by geopolitical events and fresh US trade measures, which included new tariffs and the review of existing import exemptions. Nevertheless, the overall sentiment leans toward caution, with investors closely watching for further policy signals from the Federal Reserve and developments in global trade negotiations.

In summary, gold’s corrective bounce from its recent low has provided temporary support, but strong technical and fundamental barriers could limit the extent of any recovery. The market remains sensitive to US dollar movements and global policy headlines, making gold vulnerable to renewed pressure unless bulls can regain control above key resistance levels.