Spot gold ended last week with a strong gain of 6.6%, closing at 3238 and recording a new all-time high at 3245. This morning, gold is witnessing profit-taking activity. These pullbacks are likely due to President Trump’s retreat from his previously hardline stance on tariffs, which boosted risk appetite and prompted some investors to take profits. On the other hand, the U.S. dollar continues to weaken.
In this context, as long as the 3200 support level is maintained, the 3260 resistance remains a potential target. However, if the 3200 support is broken, the levels of 3175 and 3150 may emerge as the next support zones.
In this context, as long as the 3200 support level is maintained, the 3260 resistance remains a potential target. However, if the 3200 support is broken, the levels of 3175 and 3150 may emerge as the next support zones.
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.