Despite heightened geopolitical tensions alongside a weak US Dollar, gold's price action remains in pullback mode below the $3,400 level, awaiting a catalyst.
Technically, gold remains at the upper boundary of a long-term ascending channel, anchored by the 2016 and 2020 highs. It also sits just beneath the projected breakout zone of a large cup-and-handle pattern, with a potential target near $4,000.
If gold manages a firm close above $3,500 and clears the upper boundary of the channel, bullish momentum could lift prices toward $3,700, and possibly $4,000, during the second half of 2025.
Conversely, sustained weakness below the $3,300 level would open the door to near-term support zones at $3,290, $3,240, $3,100, and $2,800, which may offer "buy-the-dip" opportunities along its primary uptrend.
- Razan Hilal, CMT
Technically, gold remains at the upper boundary of a long-term ascending channel, anchored by the 2016 and 2020 highs. It also sits just beneath the projected breakout zone of a large cup-and-handle pattern, with a potential target near $4,000.
If gold manages a firm close above $3,500 and clears the upper boundary of the channel, bullish momentum could lift prices toward $3,700, and possibly $4,000, during the second half of 2025.
Conversely, sustained weakness below the $3,300 level would open the door to near-term support zones at $3,290, $3,240, $3,100, and $2,800, which may offer "buy-the-dip" opportunities along its primary uptrend.
- Razan Hilal, CMT
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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.