Guardian Weekly Market Report – Issue 180
Issue 180 – The Week of August 5, 2025
Key Resistance and Supports this Week
Gold
| Support | Resistance |
|---|---|
| 3370.00 | 3443.00 |
| 3346.00 | 3468.00 |
| 3300.00 | 3491.00 |
| 3263.00 | 3510.00 |
Silver
| Support | Resistance |
|---|---|
| 36.45 | 37.45 |
| 36.00 | 37.73 |
| 35.75 | 37.95 |
| 35.50 | 38.20 |
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Reports of Note Due This Week
Economic indicators of importance will be light this week. Investors will be watching the U.S. trade deficit, productivity, consumer credit, S&P final U.S. services PMI and ISM services.
- Monday, Aug 4 – 10:00 A.M. Factory orders.
- Tuesday Aug 5 – 8:30 A.M. U.S. trade deficit. 9:45 A.M. S&P final U.S. services PMI, 10:00 A.M. ISM services,
- Wednesday Aug 6 – none scheduled.
- Thursday Aug 7 –. 8:30 A.M. Weekly Initial Jobless Claims expected at 221,000 versus last weeks 218,000, U.S. productivity, U.S. unit-labor costs, 10:00 A.M. wholesale inventories.
- Friday Aug 8 – none scheduled.
Geopolitics
Russia formally abandoned the Intermediate-Range Nuclear Forces (INF) Treaty, freeing it to deploy short- and medium-range missiles once restricted under the Cold War-era pact. Former Russian President Dmitry Medvedev warned rivals of a “new reality” following the decision, framing it as a response to NATO’s “anti-Russian policy” and U.S. plans to deploy similar systems in Europe and Asia. The move comes amid heightened tensions after President Trump shortened his deadline for Russia to agree to a ceasefire from 50 days to 10-12 days and deployed two nuclear submarines as a precaution. Medvedev dismissed U.S. ultimatums as a step toward war, while Ukraine endured renewed Russian drone and missile attacks that killed at least 15 civilians.
Canadian Prime Minister Mark Carney announced plans to formally recognize a Palestinian state at the U.N. General Assembly in September, aligning Canada with a growing number of Western nations shifting policy amid mounting criticism of Israel’s war in Gaza. The move follows similar announcements by the U.K., France, and Malta, reflecting increased diplomatic pressure on Israel to end the conflict. Carney linked recognition to conditions, including Palestinian Authority elections in 2026 without Hamas participation and eventual demilitarization-a requirement that may be difficult to meet given the current situation in Gaza. More than 140 countries already recognize a Palestinian state, but recognition by G7 nations signals a broader policy shift that could alter Middle East diplomacy and trade dynamics.
Russia claimed to have captured the key Ukrainian town of Chasiv Yar after 16 months of heavy fighting, though Ukraine denied the claim, saying Russian forces only raised a flag in an area they already held. The town is strategically located on routes to major Ukrainian defensive hubs in Donetsk, but analysts dispute its overall significance. The claim came as Russia launched one of its largest recent aerial assaults, firing 308 drones and eight cruise missiles at Kyiv, killing at least 16 people. The escalation comes despite U.S. President Trump’s 10-day ultimatum for Russia to accept a ceasefire or face new tariffs and sanctions. The situation has fueled further rhetoric between Trump and former Russian President Dmitry Medvedev, who warned of Russia’s nuclear capabilities.
The Call
With anxiety and uncertainty pertaining to the economy increasing weekly, the gold price will continue to work its way higher. Our first target is 3445.00 based on the December contract followed by a test of 3531.00 and then taking out the high of 3585.80 last April. Yes, there will be dips along the way. Odds are increasing the Fed will lower interest rates a .25% to .50% at the September Federal Reserve meeting and this will be bullish for gold and silver.
Last Week in Review
Gold opened the week at 3379.60 for the December contract Sunday evening and rallied up a little over 3400.00 and the sell off began. We dipped down to 3357.00 by Monday morning and then chopped our way higher until early Wednesday morning. This rally peaked at 3389.70 and then retreated to make the weekly low at 3319.20 late in the afternoon. At this point, gold bounced about 45.00 to 3366.70 and a retest lower to 3331.70 before the strong rally that was triggered by the weaker than expected payrolls numbers came out Friday morning. Gold rallied quickly and steadily all day hitting the weekly high near the end of the day at 3416.90 and settling at 3416.00. An impressive rally of about 100.00 from the lows Wednesday afternoon.
- The U.S. Dollar Index rallied early in the week and then collapsed to end week lower finishing at 98.69
- The Gold/Silver Ratio was weaker this week at 90.9 ounces of silver for 1 ounce of gold.
Last Week’s Price Ranges
| Market | Gold | Silver |
|---|---|---|
| Open | 3379.60 | 38.28 |
| High | 3416.90 | 38.51 |
| Low | 3319.20 | 36.26 |
| Close | 3416.00 | 37.10 |
The information contained in this report is intended to provide market commentary and not as a recommendation or as a basis for investment decisions. The views expressed herein are the author’s and may differ from the views of others at Guardian International Gold. Guardian International Gold is a trader of Precious metals and this communication is to be considered an invitation to trade. Guardian International Gold makes our best effort to communicate reliable information but no express or implied warranty or representation as to its accuracy, completeness, or correctness may be taken.