Gold’s Bullish Momentum Aims for a New All-Time High
By Brokerir
Current Market Overview
Gold (XAU/USD) is currently trading around $2,906, showing a slight retracement of -0.18% in today's session. The precious metal has recently rebounded from a significant support level near $2,846, triggering a strong bullish momentum. Given the macroeconomic outlook and technical structure, there is an increasing probability of gold breaking its previous all-time high (ATH) and targeting the $3,020 level in the coming weeks.
Key Technical Analysis
1. Price Structure & Trend
Gold has been in a strong uptrend since early February, characterized by higher highs and higher lows.
Recent buy signals on the chart confirm renewed bullish interest after a corrective phase.
The price has successfully broken above short-term resistance at $2,906, suggesting further upside potential.
If gold maintains momentum, a push toward $3,020 is likely, a level that aligns with historical resistance and Fibonacci extensions.
2. Supertrend Indicator
The Supertrend (10, hl2, 3) flipped bullish again after the price bounced from the $2,846 support.
The latest buy signal further strengthens the case for continued upside.
A sustained hold above $2,905 would solidify the bullish trend.
3. MACD Analysis
The MACD histogram has started printing higher bars, indicating a potential bullish crossover.
The MACD line is turning upward from negative territory, hinting at increasing buying pressure.
This momentum shift supports the idea that gold has room to extend higher.
Fundamental Drivers Supporting Gold’s Upside
Global Economic Uncertainty: Investors are shifting towards gold as a hedge against inflation and economic instability.
Central Bank Policies: The potential for rate cuts in the second half of 2025 could weaken the USD, driving gold prices higher.
Geopolitical Tensions: Any escalation in global tensions typically boosts demand for safe-haven assets like gold.
Outlook & Trading Strategy
With technical indicators aligning for a bullish continuation, gold is likely to break its previous ATH and move towards $3,020. Traders should watch for: ✅ A daily close above $2,906 to confirm bullish strength.
✅ A break above $2,920 for a stronger push toward $3,020.
✅ A potential pullback to $2,880-$2,890 as a re-entry zone before further upside.
Conclusion
Gold remains well-positioned for further gains, with $3,020 as the next major target. The bullish momentum, supported by technical signals and macroeconomic conditions, suggests traders should maintain a long bias while managing risk accordingly.
By Brokerir
By Brokerir
Current Market Overview
Gold (XAU/USD) is currently trading around $2,906, showing a slight retracement of -0.18% in today's session. The precious metal has recently rebounded from a significant support level near $2,846, triggering a strong bullish momentum. Given the macroeconomic outlook and technical structure, there is an increasing probability of gold breaking its previous all-time high (ATH) and targeting the $3,020 level in the coming weeks.
Key Technical Analysis
1. Price Structure & Trend
Gold has been in a strong uptrend since early February, characterized by higher highs and higher lows.
Recent buy signals on the chart confirm renewed bullish interest after a corrective phase.
The price has successfully broken above short-term resistance at $2,906, suggesting further upside potential.
If gold maintains momentum, a push toward $3,020 is likely, a level that aligns with historical resistance and Fibonacci extensions.
2. Supertrend Indicator
The Supertrend (10, hl2, 3) flipped bullish again after the price bounced from the $2,846 support.
The latest buy signal further strengthens the case for continued upside.
A sustained hold above $2,905 would solidify the bullish trend.
3. MACD Analysis
The MACD histogram has started printing higher bars, indicating a potential bullish crossover.
The MACD line is turning upward from negative territory, hinting at increasing buying pressure.
This momentum shift supports the idea that gold has room to extend higher.
Fundamental Drivers Supporting Gold’s Upside
Global Economic Uncertainty: Investors are shifting towards gold as a hedge against inflation and economic instability.
Central Bank Policies: The potential for rate cuts in the second half of 2025 could weaken the USD, driving gold prices higher.
Geopolitical Tensions: Any escalation in global tensions typically boosts demand for safe-haven assets like gold.
Outlook & Trading Strategy
With technical indicators aligning for a bullish continuation, gold is likely to break its previous ATH and move towards $3,020. Traders should watch for: ✅ A daily close above $2,906 to confirm bullish strength.
✅ A break above $2,920 for a stronger push toward $3,020.
✅ A potential pullback to $2,880-$2,890 as a re-entry zone before further upside.
Conclusion
Gold remains well-positioned for further gains, with $3,020 as the next major target. The bullish momentum, supported by technical signals and macroeconomic conditions, suggests traders should maintain a long bias while managing risk accordingly.
By Brokerir
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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.
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.