The continued tension in the Middle East (Israel–Iran) has led to a flight to safe havens, a key driver for gold.
Reduced pressure from the USD due to expectations that the Fed will slow down its rate cut (~September), coupled with inflationary pressures, could support gold prices
If tensions in the Middle East do not ease next week, gold's rally could extend and we could see 3500. But be careful, as if tensions ease and some good news from the USD comes, the rally could be halted.
Reduced pressure from the USD due to expectations that the Fed will slow down its rate cut (~September), coupled with inflationary pressures, could support gold prices
If tensions in the Middle East do not ease next week, gold's rally could extend and we could see 3500. But be careful, as if tensions ease and some good news from the USD comes, the rally could be halted.
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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.