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Gold price starts to adjust down sharply yet, next week?✍️ NOVA hello everyone, Let's comment on gold price next week from 02/17/2025 - 02/21/2025 🔥 World situation: Gold price dipped below $2,900 on Friday but remains on track for a strong weekly gain of over 0.80% as traders take profits ahead of the weekend. Despite mixed US economic data, the Greenback hit yearly lows, and US Treasury yields tumbled. XAU/USD is currently trading at $2,883, down 1.48% for the day. US retail sales saw a sharp decline in January, further weakening the dollar. However, gold found support as traders adjusted their positions, benefiting from safe-haven demand. Following the data, investors priced in multiple Fed rate cuts, driving the US 10-year Treasury yield down to 4.472%. Meanwhile, Industrial Production rebounded in January after a weak previous month. 🔥 Identify: The H4 frame is still in an increasing range, gold prices may soon adjust down more strongly, in the context of waiting for the Trump administration to take actions to impose taxes on other countries in the world. 🔥 Technically: Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows: Resistance: $2908, $2942, $2957 Support : $2831, $2790, $2722 🔥 NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDShort
by Nova-Scalper
3
News affecting gold pricesNews: Russia's nighttime attack damaged port infrastructure in the Odessa region of Ukraine. Russian troops occupied Zelenpo and Dachne in eastern Ukraine. In the past day, the Russian army lost about 1,200 soldiers, as well as 17 tanks, 16 armored personnel carriers and 81 artillery systems and other equipment. Geopolitics is continuing to heat up, and gold prices are expected to continue to rise next week. Viewpoint The market is in a volatile range. It is expected to show an upward trend in the next trading cycle. Keep an eye on the subsequent sharing of views
TVC:GOLDLong
by David_financial_analyst
1
XAUUSD - Possible Long Trade?Here is our quick view and update on XAUUSD . Potential opportunities and what to look out for. This is a quick overview on the pair. XAUUSD is currently trading at around 2900s . As the price on XAUUSD has failed to break below 2880 , we are still overall bullish on OANDA:XAUUSD and due to this reason, and yesterdays news and statements, we are looking for further buys on the pair. Possible buys from this smaller KL (Key Level) at around 2908 with potential 2950 as a new ATH (All Time High) for our target. Stops would be around 2892 . Keep in mind we might get deeper pullbacks and further buys. This trade is only valid if we stay above 2910 . PARAMETERS - Entry: 2908 - SL: 2892 - TP: 2950 Personal opinion: XAUUSD has tried to break below 2880 and failed. Due to this reason from a TA (Technical Analysis) point of view, we are still bullish on gold. Golds drop yesterday was also faded out due to inflation. As Powell was speaking and said that the Fed is in no rush to cut rates faster. KEY NOTES - XAUUSD failed to break below 2880. - Breaks below 2892 would result in deeper pullbacks. - XAUUSD remains bullish. Happy trading! FxPocket
OANDA:XAUUSDLong
by FxPocket
Gold Price Up 10% Already in 2025. Is $3,000 Only the Beginning?Gold XAUUSD clocked a 27% rise in 2024 when a flurry of events aligned to position the safe-haven asset front and center for global traders. This year, the shiny stuff is already off the charts and into new horizons, nearing $3,000 per ounce. Record after record, gold has defied all gloom-and-doom forecasters and permabears. But is that gold rush sustainable? Depends on who you ask. But the fundamentals are certainly there. A surge in US shipments is driving the latest leg up in the price as gold traders and dealers scramble to import boatloads of it before Trump potentially slaps a tariff on the metal, which has historically been free from such tax charges. A sweeping arbitrage trade is taking place between London and New York. The Americans are piling bullion bars on Comex, the New York commodity exchange while the Brits are seeing their gold reserves dry up, driving the cost of borrowing up by 10% or more (borrowers are usually commercial banks and gold-linked businesses). What’s more, the waiting time to pull gold from the Bank of England has skyrocketed from mere days to between a month and two months. The result of that arbitrage? Inventories in New York have soared roughly 100% since November’s Presidential election with stockpiles now sitting at more than $100 billion in value — that’s more than 1,000 tons. If it was easy to do it, then we could probably brush it off as pure speculation. But it’s a hassle. Here’s how it works: The London gold is not acceptable in New York. To close a contract and stack up the glittery metal in the US, the heavy stuff that’s being transported on planes across the Atlantic needs to be in differently shaped bars. Gold dealers need to first pass it through a refinery in Switzerland where it gets melted and reshaped into the shape Comex takes in New York. That’s how physical gold is different from pretty much any other physical asset like a stock certificate or a bond. Apparently, the insane tariff drama that releases a new episode every day could easily drive the price of gold higher. And that’s what Wall Street thinks will happen. Goldman Sachs GS , the formidable investment banking giant that’s over 150 years old, said in a note that gold prices could top $3,000 this year. It almost happened already and we’re not even past February. Gold hit a record high of $2,940 per ounce on Tuesday — cue the celebration among gold bugs. Another big reason for gold to shine in 2025 is how central banks warmed up to it in 2024. Let’s roll back the tape a little bit — the World Gold Council estimates that central banks last year stacked up more than 800 tons of gold. The biggest buyer on that list is Poland with 80 tons of it. The next four — Turkey, India, Azerbaijan, China. Digging a bit deeper, lower interest rates generally support the bullish narrative for gold, which is a non-yielding asset. Gold doesn’t generate passive income, it doesn’t pay dividends and doesn’t pay you any sort of return like a bond does. When interest rates fall, the environment benefits gold because the opportunity cost of holding it is less and investors jump in more easily. This said, pay attention to the economic calendar for any hot data releases that may stir up gold markets. With momentum being as strong as it is now, do you think gold has more room to the upside? Or are we now in froth land and prices could turn around? Share your thoughts on gold in the comments!
OANDA:XAUUSD
by TradingView
21
GOLD WEEKLY CHART MID/LONG RANGE ROUTE MAP UPDATEDWeekly GOLD Analysis: February 2024 Hello Traders, Here’s a weekly chart analysis of the GOLD, offering a comprehensive view of recent market trends and future predictions. Our diligent tracking since October 2023 has consistently delivered 100% target accuracy, as evidenced by the marked Golden Circle areas on the charts. Let’s dive into the highlights and what lies ahead. Recap of Recent Successes Weekly Chart Highlights: Last week, the market flawlessly followed our predictions: * Key Level 2735 ✅ DONE * Entry Level 2735.88 ✅ DONE * EMA5: Crossed and locked above Entry ✅ 2735 DONE * Bullish Target TP1: 2877 ✅ DONE * The FVG zone around 2735 sustained bullish momentum, while resistance was broken, leading to a new all-time high of 2886. What’s Next for GOLD? Bullish or Bearish? We anticipate continued bullish momentum with updated GOLDTURN levels and refined targets. Key Level: 2735 remains critical. EMA5 Behavior: * If EMA5 holds above 2735 and crosses/locks above TP1 (2877), the next target is TP2 (3018), followed by TP3 (3160). * A failure to hold above 2735 could indicate bearish momentum, prices will be retesting support at 2595 in the demand zone. Recommendations & Strategy: * Focus on EMA5: Its behavior near 2735 and TP1 will provide clear direction for short- and long-term trades. * Support Levels: GOLDTURN levels at 2735 and 2595 are critical for identifying reversal zones and optimal dip-buying opportunities. * For precise entry and exit points, review our daily, 12H, 4H, and 1H analyses to navigate the market confidently. * Slight pullbacks may occur, with potential reversals near GOLDTURN levels. * Long-Term Outlook: The monthly chart suggests sustained bullish momentum, offering excellent opportunities for dip-buying near key support zones. Stay Updated: We’ll continue to share daily updates, insights, and strategies on our TradingView channel and YouTube channel every Sunday. Don’t forget to like, comment, and share to support our work and help others benefit! The Quantum Trading Mastery
FXOPEN:XAUUSDLong
by TheQUANTUMTraders
XAUUSD: New short-term buy order.TP2920-2925If you are an ultra-short-term trader, then you can choose to place a buy order immediately. The profit margin is very large. Combined with the current bullish trend and the common demand relationship. The rise in gold prices is inevitable. If you hold gold, you can continue to hold and increase your position. If you are a trader who has not traded or is waiting, then you can execute this real-time trading plan. OANDA:XAUUSD TVC:GOLD Brand new buy order, the important level of 2900 has arrived. Buying is a suitable choice, whether it is a stable or aggressive trader, you can buy at this position. TP:2925.SL:2883
TVC:GOLDLong
by JAKE_T0
GOLD 12H CHART ROUTE MAP ANALYSIS FOR THE WEEK12H GOLD Chart: Updated Analysis and Strategic Outlook (10the Feb 2024) Hello Traders, Here’s the latest 12H GOLD chart update, featuring a detailed review of recent movements and actionable insights for the upcoming market sessions. Our diligent tracking since October 2023 has consistently delivered 100% target accuracy, as evidenced by the marked Golden Circle areas on the charts. Let’s dive into the highlights and what lies ahead. Previous Chart Review * Entry Level 2814: ✅ DONE * TP1 2858: ✅ DONE * The price broke above the resistance level 2858 and reached a new ATH at 2886 last week. * EMA5 held above 2858, which fueled the strong bullish push during Friday’s NFP release. What’s Next for GOLD? Bullish or Bearish? The price is currently consolidating around 2858, with EMA5 playing a crucial role in determining the next trajectory. Resistance Levels: 2903, 2948, 2993 Support Levels (Activated GOLDTURN Levels): 2813 (Critical Weighted Level) 2770 (Critical Weighted Level) 2710 (Critical Weighted Level) 2664 (Major Support Level) 2599 (Lower Major Demand Zone and Retracement Range) EMA5 Behavior (Red Line): * Currently sitting below TP1 (2858) but indicating sustained bullish momentum. * EMA5’s crossing and locking above or below key levels will signal the next move: Bullish Scenarios: Scenario 1: If EMA5 crosses and locks above TP1 (2858), expect a bullish rally toward 2903. Scenario 2: If EMA5 crosses and locks above TP2 (2903), the next target is 2948. Scenario 3: A further cross and lock above 2948 could drive the price to 2993. Bearish Scenarios: If EMA5 fails to sustain above TP1 (2858) and resistance levels hold, expect a pullback toward support zones: Scenario 1: A cross and lock below Entry (2813) could lead to a decline toward 2770. Scenario 2: A further drop below 2770 may target 2710 as the next support level. Scenario 3: Continued bearish momentum could push the price toward 2664 and, ultimately, 2599 (Retracement Range). Short-Term Strategy: Anticipate possible reversals at weighted GOLDTURN levels 2813 and 2770. Leverage 1H and 4H timeframes to capture pullbacks around these levels. Target 30–40 pips per trade, focusing on shorter positions for effective risk management. GOLDTURN levels provide reliable bounce opportunities, allowing you to buy at dip levels. Long-Term Outlook: Maintain a bullish bias while using pullbacks as buying opportunities. Buying near key support levels ensures better entry points and mitigates risks, avoiding the pitfalls of chasing tops. Final Thoughts: Trade with precision, discipline, and confidence. Our accurate, multi-timeframe analysis equips you to navigate the market effectively. Stay updated with daily insights to remain ahead of market trends. We appreciate your support! Don’t forget to like, comment, and share this post to help others benefit. Best regards, 📉💰 The Quantum Trading Mastery Team
FXOPEN:XAUUSDLong
by TheQUANTUMTraders
GOLD 1H CHAR ROUTE MAP & TRADING PALN FOR THE WEEKGOLD 1H Chart – 10th Feb 2025 Dear Traders, Here’s our updated 1H chart analysis, highlighting key levels and targets for the week. Gold is currently trading between two weighted levels, with a gap above 2892 and a gap below 2866. A confirmed EMA5 crossover and lock above or below these levels will signal the next trading range. Until then, expect price action to test these levels repeatedly. Our strategy remains focused on buying dips while tracking key weighted levels to identify potential bounce opportunities. Resistance: 2892 Support & Goldturn Levels: 2866 & 2852 (Critical Weighted Levels) 2837 (Major Support) 2802 - 2817 (Retracement Range) 2747 (Swing Range) EMA5 (Red Line) Analysis: * Currently between 2866 and 2892, indicating bullish momentum. * EMA5 positioning will be crucial in determining the next trading direction. Bullish Targets: EMA5 cross and lock Above 2892 → will open the following bullish Target 2918 EMA5 cross and lock Above 2918 → will open the following bullish Target 2942 EMA5 cross and lock Above 2942 → will open the following bullish Target 2963 Bearish Targets: EMA5 cross and lock Below 2866 → will open the following bearish Target 2852 EMA5 cross and lock Below 2852 → will open the following bearish Target 2837 EMA5 cross and lock Below 2837 → will open the following bearish Target 2817 EMA5 cross and lock Below 2817 → will open the following bearish Target 2802 (Retracement Range) EMA5 cross and lock Below 2802 → will open the following bearish Target 2747 (Swing Range) Trading Strategy: ✅ Maintain a bullish bias and buy pullbacks. ✅ Avoid chasing tops; buy dips from key levels. ✅ Use smaller timeframes for pullback entries at Goldturn levels. ✅ Target 30-40 pips per trade for effective risk management. Trade smart and stay updated with our daily insights! Support us with likes, comments, boosts, and follows! 📉💰 The Quantum Trading Mastery
FXOPEN:XAUUSDLong
by TheQUANTUMTraders
Our Recommendations Always Succeed… And Gold Confirms It!In our latest recommendation , we clearly pointed out a gold buying opportunity, and now it’s proving us right! Gold has reached $2908 after Trump raised tariffs, giving gold significant strength! 🚀 🎯 Next level: $2931 🏆 Major target: $3000 within one to two months! 🔔 Don’t miss this opportunity! Gold is on an upward trend, and history proves our analysis is always accurate! 💬 Have any questions? Drop them in the comments, and follow us now so you don’t miss the next recommendation! 🔥👇 #Gold #Investment #SuccessfulAnalysis
TVC:GOLDLong
by stocksfox
Is this the Pull Back Zone On Gold XAU GC1! In this video I highlight the potential area for a pull back on Gold Using the TR Pocket and Trend based Extension tool . Using these tools combined we were able to establish a zone of perfect confluence for a downside reaction on Gold. Also I use the new Demonstration Cursor released by Tradingview to highlight the levels on the chart of where my fib pulls were made. In addition to the above I noticed after completing the video that we have yearly pivots that are untapped around $2580. CPI on Wednesday may give us the narrative for the reaction up at those highlighted highs and to begin cooling off . I welcome your engagement Boosts comments + follows . Enjoy Ty
COMEX:GC1!
by SJTRADESFUTURES
XAU/USD "The GOLD" Metals Market Heist Plan🌟Hi! Hola! Ola! Bonjour! Hallo!🌟 Dear Money Makers & Robbers, 🤑 💰 Based on 🔥Thief Trading style technical and fundamental analysis🔥, here is our master plan to heist the XAU/USD "The GOLD" Metals Market market. Please adhere to the strategy I've outlined in the chart, which emphasizes long & Short entry. 👀 Be wealthy and safe trade 💪🏆🎉 Entry 📈 : "The loot's within reach! Wait for the breakout, then grab your share - whether you're a Bullish thief or a Bearish bandit!" Buy entry above 2820 Sell Entry below 2760 Stop Loss 🛑: Using the 1H period, the recent / nearest Pullbacks. Target 🎯: -Bullish Robbers TP 2880(or) Escape Before the Target -Bearish Robbers TP 2700 (or) Escape Before the Target 📰🗞️Fundamental, Macro, COT, Sentimental Outlook: The XAU/USD "The GOLD" Metals Market market is currently experiencing a neutral trend, with a slight bias towards bullishness., driven by several key factors. 🟤Fundamental Factors - US Federal Reserve Meeting: The US Federal Reserve will meet on Wednesday, and investors will be watching for any changes in monetary policy. - US GDP Data: The US GDP data for the fourth quarter will be released on Thursday, and a weaker-than-expected reading could boost gold prices. - US Inflation Data: The US inflation data for January will be released on Wednesday, and a higher-than-expected reading could lead to a price correction. 🟠Macro Economic Factors - Global Economic Trends: The global economy is experiencing a slowdown, driven by trade tensions, geopolitical uncertainty, and lower consumer spending. - Inflation Rates: The impact of inflation rates on the XAU/USD pair is currently neutral, with no significant changes in the inflation outlook. - Interest Rates: The US Federal Reserve's interest rate decision will impact the XAU/USD pair, with a rate cut potentially boosting gold prices. 🟡COT Report - Speculative Positions: Speculative traders are net long on the XAU/USD pair, indicating a bullish sentiment. - Commercial Traders: Commercial traders are net short on the pair, indicating a bearish sentiment. - Non-Commercial Traders: Non-commercial traders are net long on the pair, indicating a bullish sentiment. 🟢Sentimental Outlook - Client Sentiment: 55% of client accounts are long on this market, indicating a bullish sentiment. - Market Positioning: The XAU/USD pair is currently overbought, with a possibility of a price correction. Bullish Sentiment: 60% Bearish Sentiment: 40% Neutral Sentiment: 0% 🟣Prediction for this Week - Bullish Scenario: A weaker-than-expected US GDP reading and a dovish Federal Reserve could boost gold prices to $1,980. - Bearish Scenario: A stronger-than-expected US GDP reading and a hawkish Federal Reserve could lead to a price correction to $1,910. ⚠️Trading Alert : News Releases and Position Management 📰 🗞️ 🚫🚏 As a reminder, news releases can have a significant impact on market prices and volatility. To minimize potential losses and protect your running positions, we recommend the following: Avoid taking new trades during news releases Use trailing stop-loss orders to protect your running positions and lock in profits 📌Please note that this is a general analysis and not personalized investment advice. It's essential to consider your own risk tolerance and market analysis before making any investment decisions. 📌Keep in mind that these factors can change rapidly, and it's essential to stay up-to-date with market developments and adjust your analysis accordingly. 💖Supporting our robbery plan will enable us to effortlessly make and steal money 💰💵 Tell your friends, Colleagues and family to follow, like, and share. Boost the strength of our robbery team. Every day in this market make money with ease by using the Thief Trading Style.🏆💪🤝❤️🎉🚀 I'll see you soon with another heist plan, so stay tuned 🫂
VELOCITY:GOLD
by Thief_Trader
GOLD 4H CHART ROUTE MAP ANALYSISHello Traders, Here’s our updated 4H GOLD analysis. To fully grasp this setup, we highly recommend reviewing our previous 4H chart and carefully reading its caption for a complete context. Key Breakdown: Previously, we marked KEY LEVEL 2733 as a crucial support zone. Our strategy was straightforward: If EMA5 crossed and locked below 2733, we would shift our focus to bearish targets. If EMA5 crossed and locked above 2733, we would pivot towards bullish targets. That’s exactly what happened! If you look at the purple circle at the center of the chart, you’ll notice how EMA5 successfully reversed from our 2733 support, triggering a strong bullish momentum. Recent Performance & Target Updates: ✅ First Bullish Phase: Buying at the dip allowed us to hit TP1 (2758) and TP2 (2765) twice. A new Entry Level at 2762 was established. That entry successfully achieved TP1 (2788) 🚀 Next in Line: TP2 (2815) and TP3 (2841) is on its way—stay patient and watch price action unfold! Why This Matters: This is the power of structured trading. Every move is carefully mapped out, ensuring we trade with precision and patience. However, it’s crucial to read the captions thoroughly to fully understand the setups—missing key details could lead to misinterpretation of the chart. What’s Next? 📌 We’ll be back on Sunday afternoon with the next GOLD ROUTE MAP for the upcoming week! 🔥 Support us by commenting, liking, and boosting our chart. Your engagement helps us continue providing high-quality analysis! Looking forward to hearing your thoughts! Trade smart, stay patient, and trust the process! — Quantum Trading Master
FXOPEN:XAUUSDLong
by TheQUANTUMTraders
GOLD 4H TECHNICAL ANALYSIS GOLD ATH / READ CAPTION CAREFULLY Dear Traders, Please find our updated analysis of the 4H Chart (5th February): Key Observations: Orange Circles: Highlight previously achieved targets, showcasing the precision and effectiveness of our analysis. Previous Chart Review: TP1 (2788): Successfully hit. TP2 (2815): Successfully hit. TP3 (2841): Successfully hit. Market Overview: * TP1 (2850) Successfully Achieved * GOLD is trading at an ATH of 2851, oscillating between the weighted level with a gap above 2850 and a gap below the 2823 Entry Level. * EMA5 and FVG are offering strong support in this range. * Price action will test these levels side-by-side until a decisive break and lock above/below the weighted levels confirm the next directional move. Resistance Levels: 2850, 2876, 2903 Key Support: 2776 Support Levels (GOLDTURN Levels): 2828 (Critical Weighted Level) 2803 (Critical Weighted Level) 2776 (Major Support Level) 2747 (Lower Major Demand Zone) EMA5 (Red Line): * Currently below TP1 (2850), indicating sustained bullish momentum. * EMA5’s behavior will be pivotal in determining the next price action trajectory. Recommendations * Focus on EMA5 Behavior: Bearish Case: * If EMA5 holds below TP1 (2850) and resistance levels remain intact, bearish momentum may drive prices to retest GOLDTURN weighted levels. * Scenario 1: If EMA5 crosses and locks below Entry 2823, expect further bearish movement toward GOLDTURN 2803. * Scenario 2: If EMA5 crosses and locks below GOLDTURN 2803, anticipate another decline toward the major support at GOLDTURN 2776. Bullish Case: Scenario 1: If EMA5 crosses and locks above TP1 (2850), the next bullish target is 2876. Scenario 2: If EMA5 crosses and locks above TP2 (2876), the subsequent bullish target will be 2903. Scenario 3: A crossover and lock above TP3 (2903) will set the stage for the next target at 2925. Short-Term: Utilize 1H and 4H timeframes to capture pullbacks at GOLDTURN levels. Target 30–40 pips per trade, focusing on shorter positions in this range-bound market. Each Level allows 30 -40 pips bounce, buy at dip level for proper risk management Long-Term Outlook: * Maintain a bullish bias, viewing pullbacks as buying opportunities. * Buying dips from key levels ensures better risk management, avoiding the pitfalls of chasing tops. Final Thoughts: Trade with confidence and discipline. Our detailed and accurate analysis equips you to navigate market movements effectively. Stay tuned for daily updates and multi-timeframe insights to stay ahead in the game. Please support us by likes, comments, boosts and following our channel Best regards, 📉💰 The Quantum Trading Mastery
FXOPEN:XAUUSDLong
by TheQUANTUMTraders
Ready for CorrectionGold drops to 2830 to return to its trend line. Give me some energy !! ✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us. Best regards CobraVanguard.💚 _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
FOREXCOM:XAUUSDShort
by CobraVanguard
XAUUSD BUY TRADE SIGNAL GOLD ANALYSIS🔹 Current Trend: Gold has been showing a bullish trend, respecting key support zones while maintaining a higher-low structure. The 20-period WMA (Weighted Moving Average) at 2,864.780 is acting as dynamic support. 🔹 Key Levels: ✅ Support Zone: 2,854 - 2,861 (Marked in Green) ✅ Resistance Zone: 2,886.812 (Marked in Red) 🔹 Trade Setup: 📈 Bullish Scenario: Price is consolidating at a strong support level and forming a potential higher low structure. A breakout above the current consolidation could trigger a bullish move towards 2,886.812. If price holds above the 2,861 zone, this can be a confirmation for further upside movement. 📉 Bearish Invalidations: A break below 2,854.420 would indicate potential weakness, possibly leading to a move toward 2,841.082. 🔹 Trading Plan: Buy Entries on confirmation of bullish price action above the support zone. Stop Loss placed below 2,854 to minimize risk. Take Profit at 2,886 to capitalize on the potential bullish momentum. ⚡ Are you bullish or bearish on Gold? Drop your thoughts below! ⬇️🔥 #XAUUSD #GoldTrading #ForexTrading #PriceAction #TradeSetup #TechnicalAnalysis
OANDA:XAUUSDLong
by naumanfx_
Gold price analysis February 7⭐️Fundamental Analysis Gold prices maintained a slight upward trend in today's European trading session, hovering near the all-time high reached earlier. Safe-haven demand for gold continued to increase due to concerns about US-China trade tensions and the negative impact of the Trump administration's hawkish policies. Meanwhile, the USD struggled as the market bet that the Fed would cut interest rates twice this year. US Treasury yields plunged, further strengthening the appeal of non-yielding gold. Investors are now focused on the US NFP employment report to determine the next trend of the market. ⭐️Technical Analysis Gold prices continue to head towards all-time highs. The 2873 area has attracted a lot of attention from sellers before the ATH. resistance zone above note around 2898. more predicted downtrend for gold specifically a sharp fall to 2811 or deeper to 2786. pay attention to noted resistance zones for best trading strategy.
OANDA:XAUUSD
by TVS-Trader
2