Gold (XAU/USD) Price Prediction & Technical Analysis-Monthly TF
🟢 Current Overview:
Gold Spot Price: $2,763.30
Monthly Change: +5.32% (+$139.50)
All-Time Highs: Testing new highs
🔎 Key Technical Analysis
1️⃣ Trend Analysis (Bullish Momentum)
✅ Gold is in a strong long-term uptrend, as seen in the steady rise since 2018.
✅ The chart shows a breakout above the 2020-2022 resistance level (~$2,100-$2,200).
✅ Higher highs and higher lows indicate sustained bullish momentum.
2️⃣ Support & Resistance Levels
Major Support: $2,200 (previous resistance, now support)
Intermediate Support: $2,500 (recent consolidation zone)
Immediate Resistance: $2,800 (psychological level)
Long-Term Target: $3,000+
3️⃣ Fibonacci Levels
38.2% Retracement: $2,200 (key level for pullbacks)
50% Retracement: $2,000 (historical demand zone)
4️⃣ RSI & Momentum Indicators
RSI Above 70 → Gold is currently overbought, but strong uptrends can stay overbought for extended periods.
MACD Bullish Crossover → Confirms strong upward momentum.
📈 Future Price Prediction
🟢 Bullish Scenario (Breakout Continues)
Gold pushes above $2,800 → Next target: $3,000+
Macroeconomic factors (inflation, rate cuts) drive demand
🔴 Bearish Scenario (Pullback Before New Highs)
If gold fails to break $2,800, correction to $2,500 or $2,200 possible
Profit-taking could trigger a temporary dip before further gains
🎯 Investment Strategy
🔹 Long-Term Holders (Investors)
Buy on dips near $2,500 or $2,200 for long-term gains.
Target $3,000+ in 2024-2025.
🔹 Short-Term Traders
Breakout Buy: Above $2,800 with volume → Target $3,000.
Pullback Buy: Near $2,500 if correction happens.
📈 Gold Price Forecast Scenarios (2024-2025)
🟢 Bullish Case (High Probability)
Gold reaches $3,000-$3,200 by late 2024
Key Drivers: Fed rate cuts, inflation, strong central bank buying, and geopolitical tensions
🔴 Bearish Case (Low Probability)
Gold corrects to $2,200-$2,400 if U.S. economy avoids a recession and inflation drops sharply
Key Risk: If the Fed keeps rates higher for longer, the U.S. dollar could strengthen, temporarily reducing gold demand.
Gold Spot Price: $2,763.30
Monthly Change: +5.32% (+$139.50)
All-Time Highs: Testing new highs
🔎 Key Technical Analysis
1️⃣ Trend Analysis (Bullish Momentum)
✅ Gold is in a strong long-term uptrend, as seen in the steady rise since 2018.
✅ The chart shows a breakout above the 2020-2022 resistance level (~$2,100-$2,200).
✅ Higher highs and higher lows indicate sustained bullish momentum.
2️⃣ Support & Resistance Levels
Major Support: $2,200 (previous resistance, now support)
Intermediate Support: $2,500 (recent consolidation zone)
Immediate Resistance: $2,800 (psychological level)
Long-Term Target: $3,000+
3️⃣ Fibonacci Levels
38.2% Retracement: $2,200 (key level for pullbacks)
50% Retracement: $2,000 (historical demand zone)
4️⃣ RSI & Momentum Indicators
RSI Above 70 → Gold is currently overbought, but strong uptrends can stay overbought for extended periods.
MACD Bullish Crossover → Confirms strong upward momentum.
📈 Future Price Prediction
🟢 Bullish Scenario (Breakout Continues)
Gold pushes above $2,800 → Next target: $3,000+
Macroeconomic factors (inflation, rate cuts) drive demand
🔴 Bearish Scenario (Pullback Before New Highs)
If gold fails to break $2,800, correction to $2,500 or $2,200 possible
Profit-taking could trigger a temporary dip before further gains
🎯 Investment Strategy
🔹 Long-Term Holders (Investors)
Buy on dips near $2,500 or $2,200 for long-term gains.
Target $3,000+ in 2024-2025.
🔹 Short-Term Traders
Breakout Buy: Above $2,800 with volume → Target $3,000.
Pullback Buy: Near $2,500 if correction happens.
📈 Gold Price Forecast Scenarios (2024-2025)
🟢 Bullish Case (High Probability)
Gold reaches $3,000-$3,200 by late 2024
Key Drivers: Fed rate cuts, inflation, strong central bank buying, and geopolitical tensions
🔴 Bearish Case (Low Probability)
Gold corrects to $2,200-$2,400 if U.S. economy avoids a recession and inflation drops sharply
Key Risk: If the Fed keeps rates higher for longer, the U.S. dollar could strengthen, temporarily reducing gold demand.
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.