Safe-Haven Demand Expected to Push Gold Prices Toward 3500Last week, intensifying conflict between Israel and Iran triggered a strong wave of risk-off sentiment in the markets.
As a result, we saw sharp rallies across major safe-haven assets and crude oil.
Over the weekend, tensions continued to escalate and even showed signs of further expansion.
Under such circumstances, it's clear that heightened geopolitical risk will continue to support gold prices.
However, 📍$3500 remains a major resistance zone at the moment.
If gold spikes to this level intraday, it’s very likely we’ll see a short-term pullback —
Whether due to profit-taking, cautious positioning by sideline capital, or selling pressure from trapped shorts above 3490,
⚠️ this kind of correction is a natural market reaction — driven by human nature.
Even with strong risk-off demand in place, after a $200 rally,
the market is still subject to volatility from profit-taking behaviors.
🔑 Trading Strategy for This Week
As long as tensions in the Middle East persist,
🎯 the primary bias remains bullish.
However, the entry point is crucial.
💡 Important notes:
Avoid chasing price after sudden spikes caused by breaking news.
Those spikes are not ideal buy zones — instead, look for short-term selling opportunities at those highs.
Once the price pulls back, assess the retracement level and key supports before looking to buy the dip.
We are now within a historically high price range,
which means any rally could trigger profit-taking from earlier longs.
While the overall trend may still head higher,
⚠️ you need to carefully evaluate the size of potential pullbacks and whether your account can withstand the associated risks.
📊 Technical Levels to Watch:
Resistance: 3450-3455 (minor), 3468-3474 (previous high), and 3487-3499 (major historical high)
Support: 3420–3410 zone, and the deeper 3400–3386 range
Stay alert, trade wisely, and remember — in volatile geopolitical environments,
timing and discipline are more important than ever.
