Gold is currently showing a triple top pattern while holding at a key trendline support.
With geopolitical tensions easing, US inflation cooling off, and a potential Fed rate cut on the horizon, gold may be set for a correction.
A drop toward the $2,900/oz zone looks likely — this will be a critical support level. A break below it could trigger a long-term downtrend.
With geopolitical tensions easing, US inflation cooling off, and a potential Fed rate cut on the horizon, gold may be set for a correction.
A drop toward the $2,900/oz zone looks likely — this will be a critical support level. A break below it could trigger a long-term downtrend.
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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.