On Friday (October 25), towards the end of the Asian trading session, spot gold maintained its intraday downward trend, with the gold price currently hovering around $2,725 per ounce, falling by more than $10 during the day. Renowned financial information website Economies.com published a fresh article on Friday, analyzing the technical outlook for gold for the day.

According to Economies.com, gold prices have lost upward momentum and have broken through an important support line. Should the price fall below $2,722 per ounce, this could open the door for further significant declines in gold prices.

Spot gold closed higher on Thursday, gaining $20.52, or 0.76%, at $2,735.76 per ounce.

On Friday, news emerged that the United States and Israel plan to resume ceasefire negotiations in Gaza, which has warmed market risk appetite and thus impacted the gold price's performance on Friday.

Reuters reported on Friday that U.S. officials stated on Thursday that U.S. and Israeli negotiators will gather in Doha in the coming days to attempt to restart negotiations and reach an agreement on a ceasefire and the release of Gazan hostages.

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Economies.com wrote in the article that after the start of today's trading, gold prices showed a downward trend and broke through the support line of a minor bullish channel, thus once again bearing corrective bearish pressure. It is worth noting that if gold prices break below $2,722 per ounce, this will confirm the continuation of the gold price's downward trend and head towards the $2,700 per ounce area, which is the next bearish target for gold prices.

Economies.com stated that, therefore, the gold price is expected to have a bearish inclination today. The stochastic indicator is sending negative signals, which supports the bearish expectation. It should be pointed out that if gold prices break through $2,740 per ounce, this will halt the expected downward trend and push gold prices back onto the main bullish track.

Economies.com estimates that today's gold price trading will be between the support level of $2,700 per ounce and the resistance level of $2,740 per ounce.

Economies.com states that the expected trend for gold prices today is bearish.At 14:24 Beijing time, the spot gold price was reported at $2,725.43 per ounce.