Gold Support @2580 Res 2720 & 2830
Hello traders
Gold has rallied to 2720 twice and was rejected, however the 2580 Support is holding steady.
Why the Gold has been falling lately?
This is due to many factors
1. Strong Dollar
2. Strong Yeilds
3. Strong Stock Market
4. Has rallied rapidly without correction, so it is time for sideways.
5. Trump recent threat to Bricks Block members could cap the Central banks purchase of gold
Anyway, The Dollar should drop in 2025, and yeilds as well, so the Gold should rally very well in 2025.
Levels to watch
2580 Is support, if boken watch 2550
2600 Is Resistance, when broke, watch 2630 then 2650 then 2680 then 2700 and 2720
Gold has rallied to 2720 twice and was rejected, however the 2580 Support is holding steady.
Why the Gold has been falling lately?
This is due to many factors
1. Strong Dollar
2. Strong Yeilds
3. Strong Stock Market
4. Has rallied rapidly without correction, so it is time for sideways.
5. Trump recent threat to Bricks Block members could cap the Central banks purchase of gold
Anyway, The Dollar should drop in 2025, and yeilds as well, so the Gold should rally very well in 2025.
Levels to watch
2580 Is support, if boken watch 2550
2600 Is Resistance, when broke, watch 2630 then 2650 then 2680 then 2700 and 2720
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