XAU/USD, H4 6 March 2024
Gold prices have extended their upward trajectory, surging by over 4% throughout March. The
precious metal's ascent is largely attributed to the prevailing risk-off sentiment in the market,
intensifying ahead of the Federal Reserve Chair Jerome Powell's testimony scheduled for today and tomorrow. Additionally, the growing financial risk associated with a potential pullback in equity markets has further bolstered demand for gold as a safe-haven asset. Investors are closely monitoring Powell's remarks for insights into the Fed's stance amid heightened market uncertainty.
Gold prices have risen and are currently holding below its all-time high levels. Suggesting the bullish momentum remains strong for the gold.
Resistance level: 2140.00, 2155.00
Support level: 2117.90, 2088.20
Gold prices have extended their upward trajectory, surging by over 4% throughout March. The
precious metal's ascent is largely attributed to the prevailing risk-off sentiment in the market,
intensifying ahead of the Federal Reserve Chair Jerome Powell's testimony scheduled for today and tomorrow. Additionally, the growing financial risk associated with a potential pullback in equity markets has further bolstered demand for gold as a safe-haven asset. Investors are closely monitoring Powell's remarks for insights into the Fed's stance amid heightened market uncertainty.
Gold prices have risen and are currently holding below its all-time high levels. Suggesting the bullish momentum remains strong for the gold.
Resistance level: 2140.00, 2155.00
Support level: 2117.90, 2088.20
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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.