After last week's decline, gold prices are stabilizing as the market awaits central banks' interest rate decisions and upcoming economic data with resistance currently located at $2,040. In case the resistance cannot be overcome, gold could be pushed towards the $2,005 support level. Currently, gold is slightly down to $2,027.
In the long term, gold will be boosted as the Fed cuts interest rates and geopolitical tensions continue to linger.
In the long term, gold will be boosted as the Fed cuts interest rates and geopolitical tensions continue to linger.
Note
SELL XAU 2032TP1: 2027
TP2: 2022
SL: 2042
Note
Hit TP 2 + 150 pips
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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.