GOLD → Growing economic risks increase interest ↑

rallied aggressively due to high interest driven by rapidly rising economic risks, mainly related to Trump's tariffs. For selling, the risk is very high, with the stock and cryptocurrency market declines only adding to the interest in the metal

GOLD → Correction after a false breakout. A reversal?

Markets are taking refuge in defensive assets amid WSJ reports of Trump's possible tariff hike of up to 20% for most US trading partners. This could trigger inflationary pressures and stagflation, weakening the dollar and bond yields, which supports the gold price.
This week all eyes are on Trump's speech on Wednesday, PMI, NonFarm Payrolls and Powell's speech
Technically, it is not worth selling now as it is high risk, and for buying we should wait for a correction to key support levels

Resistance levels: 3127
Support levels: 3103, 3091, 3085

We are not talking about any trend reversal now. It is worth waiting for a local correction or consolidation, the market will mark important levels, liquidity zones or imbalances against which you can build a trading strategy. Gold will continue to grow because of the strongly increasing risks.

Regards R. Linda!

Trade active

False support breakdown.
Upward momentum
Target reached. +240 pips!

RLinda

🌹TRADING is a CASINO💔!?

NO‼️

You❗️CAN and ❗️SHOULD make money in trading!

Join me, I'll guide you to PROFITABLE TRADING💵!

🟢Free Telegram Channel:
t.me/RLindaTrade

🔴Contact:
t.me/RLindaSignals

Also on:

Related publications

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.