GOLD → Is $3000 still relevant? News ahead for FX:XAUUSD by RLinda

GOLD → Is $3000 still relevant? News ahead

has almost touched 2450 and without reaching the psychological target is smoothly flowing into correction with the purpose of respite and filling liquidity before the news and possible growth.

GOLD → The northbound train continues to make its way to 3K

Gold is testing 2450 after Trump's new tariffs, keeping demand high. Investors are waiting for Powell's speech and U.S. inflation data, which may influence rate cut expectations and further dynamics of gold. Gold remains volatile on one side and bullish on the other side due to trade risks and Fed policy.
Technically, a correction is a logical scenario on the back of a strong market. The price cannot rise all the time, it needs energy, which is accumulated at the expense of sellers.
At the moment the emphasis is on such zones as: 2910, 0.5 fibo and 0.7 fibo.

Resistance levels: 2910, 2929
Support levels: 2898, 2882, 2870

Powell speaks tonight and tomorrow is the inflation data. High volatility is possible, but the general economic situation supports the metal.
Before further growth the price may test 2898, 2882. The target in the form of 2950 - 3000 remains relevant.

Regards R. Linda!

Trade active

False break of 2882 support provokes a pullback and the price almost reached the first target
+230 pips

RLinda

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