Gold Surges Above $2,900 Amid Geopolitical and Trade Tensions
Technical Analysis: Gold Eyes $2,950 Resistance
On the H4 chart, gold has rebounded from $2,834, with the RSI climbing above 50 and the MACD showing bullish momentum. Key resistance is at $2,950—breaking above this level could open the door to $3,000. Meanwhile, support lies at $2,880, aligning with the 50-period SMA. A drop below this level may trigger a correction toward $2,850.
Market Outlook: Focus on U.S. Jobs Data
Investors are watching the upcoming Non-Farm Payrolls (NFP) report. Strong job data could temper gold’s rally, while weaker figures may drive further upside. Given the geopolitical backdrop and trade tensions, gold remains well-positioned as a safe-haven asset in the near term.
On the H4 chart, gold has rebounded from $2,834, with the RSI climbing above 50 and the MACD showing bullish momentum. Key resistance is at $2,950—breaking above this level could open the door to $3,000. Meanwhile, support lies at $2,880, aligning with the 50-period SMA. A drop below this level may trigger a correction toward $2,850.
Market Outlook: Focus on U.S. Jobs Data
Investors are watching the upcoming Non-Farm Payrolls (NFP) report. Strong job data could temper gold’s rally, while weaker figures may drive further upside. Given the geopolitical backdrop and trade tensions, gold remains well-positioned as a safe-haven asset in the near term.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.