📈 Current Price: $3,024.155 (+0.15%)
⏳ Timeframe: 4H (OANDA)
Volume: 27.16K
🔍 Technical Analysis
Entry Zone Identified ($3,030)
Gold is currently in a critical decision zone at $3,030, marked as the "Entry Zone."
If price breaks above this level with strong volume, it could rally towards $3,050–$3,070.
Key Resistance: Around $3,070 (previous highs).
Potential Rejection & Downside Risk
If gold fails to break the entry zone and faces rejection, it could decline towards $3,010 or even $3,000.
Support: Strong demand zone around $3,010; further support at $2,990.
Projected Move
The chart suggests a bullish breakout if gold holds above the entry zone.
Expected Upside: → $3,050 → $3,070
Bearish Scenario: If rejected, watch for a drop to $3,010 → $3,000.
🌎 Fundamental Drivers (Recent News & Market Sentiment)
📊 Fed's Rate Decision & Inflation Outlook
Fed Chair Jerome Powell has hinted at potential rate cuts by mid-2025, citing slowing inflation.
A dovish Fed stance is bullish for gold, as lower interest rates weaken the dollar and boost demand for non-yielding assets like gold.
📉 U.S. Dollar Weakness & Bond Yields
The U.S. Dollar Index (DXY) has softened, making gold more attractive to international buyers.
10-Year Treasury Yields remain volatile, but any decline favors gold.
📈 Geopolitical Tensions & Safe-Haven Demand
Rising concerns over Middle East conflicts and China-Taiwan tensions have increased demand for gold as a safe-haven asset.
Central banks (including China and India) continue to accumulate gold reserves, adding upward pressure on prices.
🏛️ Central Bank Buying
Reports indicate that China’s PBOC (People’s Bank of China) has increased gold reserves for the 17th consecutive month.
BRICS nations are also accumulating gold, signaling de-dollarization trends that could further boost prices.
🔮 Conclusion: What’s Next for Gold?
Short-Term View:
Bullish Above: $3,030, targeting $3,050–$3,070.
Bearish Below: If rejected, expect $3,010–$3,000 retest.
Long-Term View:
Given macroeconomic trends (Fed policy shift, central bank buying, geopolitical risks), gold remains in a strong uptrend.
If the Fed confirms rate cuts, $3,100+ levels become realistic in Q2 2025.
🚀 Gold traders should closely monitor the $3,030 entry zone for confirmation of a breakout or rejection. 🚀
⏳ Timeframe: 4H (OANDA)
Volume: 27.16K
🔍 Technical Analysis
Entry Zone Identified ($3,030)
Gold is currently in a critical decision zone at $3,030, marked as the "Entry Zone."
If price breaks above this level with strong volume, it could rally towards $3,050–$3,070.
Key Resistance: Around $3,070 (previous highs).
Potential Rejection & Downside Risk
If gold fails to break the entry zone and faces rejection, it could decline towards $3,010 or even $3,000.
Support: Strong demand zone around $3,010; further support at $2,990.
Projected Move
The chart suggests a bullish breakout if gold holds above the entry zone.
Expected Upside: → $3,050 → $3,070
Bearish Scenario: If rejected, watch for a drop to $3,010 → $3,000.
🌎 Fundamental Drivers (Recent News & Market Sentiment)
📊 Fed's Rate Decision & Inflation Outlook
Fed Chair Jerome Powell has hinted at potential rate cuts by mid-2025, citing slowing inflation.
A dovish Fed stance is bullish for gold, as lower interest rates weaken the dollar and boost demand for non-yielding assets like gold.
📉 U.S. Dollar Weakness & Bond Yields
The U.S. Dollar Index (DXY) has softened, making gold more attractive to international buyers.
10-Year Treasury Yields remain volatile, but any decline favors gold.
📈 Geopolitical Tensions & Safe-Haven Demand
Rising concerns over Middle East conflicts and China-Taiwan tensions have increased demand for gold as a safe-haven asset.
Central banks (including China and India) continue to accumulate gold reserves, adding upward pressure on prices.
🏛️ Central Bank Buying
Reports indicate that China’s PBOC (People’s Bank of China) has increased gold reserves for the 17th consecutive month.
BRICS nations are also accumulating gold, signaling de-dollarization trends that could further boost prices.
🔮 Conclusion: What’s Next for Gold?
Short-Term View:
Bullish Above: $3,030, targeting $3,050–$3,070.
Bearish Below: If rejected, expect $3,010–$3,000 retest.
Long-Term View:
Given macroeconomic trends (Fed policy shift, central bank buying, geopolitical risks), gold remains in a strong uptrend.
If the Fed confirms rate cuts, $3,100+ levels become realistic in Q2 2025.
🚀 Gold traders should closely monitor the $3,030 entry zone for confirmation of a breakout or rejection. 🚀
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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.
Related publications
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.