GOLD
Since yesterday, the gold price has experienced a sharp decline and is currently attempting to break the 2860 support level. Before continuing its downward movement, there is a possibility of a temporary rise toward 2880, which could act as a key resistance.
A confirmed break below 2860 would strengthen bearish momentum, leading to further declines toward the next key support levels at 2809 and 2782. However, for the price to shift into a bullish trend, it must successfully break and hold above 2880, signaling a potential reversal and upward continuation. Until then, the bearish outlook remains dominant.
Additionally, gold edged lower on Friday, set to record its biggest weekly drop in over three months, driven by a stronger U.S. dollar. Investors are also awaiting key U.S. inflation data, which could provide further insights into the Federal Reserve’s monetary policy trajectory. This fundamental pressure reinforces the bearish sentiment, increasing the likelihood of further declines in the absence of a bullish catalyst.
Since yesterday, the gold price has experienced a sharp decline and is currently attempting to break the 2860 support level. Before continuing its downward movement, there is a possibility of a temporary rise toward 2880, which could act as a key resistance.
A confirmed break below 2860 would strengthen bearish momentum, leading to further declines toward the next key support levels at 2809 and 2782. However, for the price to shift into a bullish trend, it must successfully break and hold above 2880, signaling a potential reversal and upward continuation. Until then, the bearish outlook remains dominant.
Additionally, gold edged lower on Friday, set to record its biggest weekly drop in over three months, driven by a stronger U.S. dollar. Investors are also awaiting key U.S. inflation data, which could provide further insights into the Federal Reserve’s monetary policy trajectory. This fundamental pressure reinforces the bearish sentiment, increasing the likelihood of further declines in the absence of a bullish catalyst.
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The market is waiting—you can make money, and you should.
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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.
Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
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.