GOLD → ATH retest - 2942. A step away from a breakout for FX:XAUUSD by RLinda

GOLD → ATH retest - 2942. A step away from a breakout

is testing ATH, which generally increases the chances of growth continuation. The 3000 target is getting closer and closer. Retail sales data is ahead

GOLD → The northbound train is ready to move on

Metal is consolidating after the rally, remaining in an uptrend. Supported by Trump's tariff plans and expectations of Fed easing. PPI data reinforced dovish sentiment, weakening the dollar and bond yields.
Markets reacted to the delay in tariffs and comments from Trump and Powell on the need to cut interest rates (without specific dates), which supported gold. Ahead is possible profit taking and the impact of US retail sales data

Resistance levels: 2942.6, 2950
Support levels: 2929, 2922, 2908

Emphasis on key supports. There is a possibility of support retest before further growth. If this does not happen and the price heads towards ATH, the scenario for a pullback to the support at 2929-2922 before further growth will remain

Regards R. Linda!

RLinda

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