Hello traders,
Looking at the current market setup, gold is hovering near the key resistance zone between $3,340 and $3,350. This area acts as a decisive barrier, and a clear breakout could trigger strong bullish momentum.
Recent price candles with higher trading volumes signal that buyers are becoming more aggressive, suggesting that gold may soon overcome $3,350 and move towards $3,370 or beyond.
On the macro side, expectations of a Federal Reserve rate cut continue to weigh on the US dollar, providing additional support for gold as a safe-haven asset. If the Fed’s meeting minutes or Jerome Powell’s speech at Jackson Hole confirm a dovish stance, it could further fuel the rally.
What’s your view on this move? Do you believe gold can break above $3,350 and extend its rally?
Share your opinion—I’d love to hear your thoughts!
Looking at the current market setup, gold is hovering near the key resistance zone between $3,340 and $3,350. This area acts as a decisive barrier, and a clear breakout could trigger strong bullish momentum.
Recent price candles with higher trading volumes signal that buyers are becoming more aggressive, suggesting that gold may soon overcome $3,350 and move towards $3,370 or beyond.
On the macro side, expectations of a Federal Reserve rate cut continue to weigh on the US dollar, providing additional support for gold as a safe-haven asset. If the Fed’s meeting minutes or Jerome Powell’s speech at Jackson Hole confirm a dovish stance, it could further fuel the rally.
What’s your view on this move? Do you believe gold can break above $3,350 and extend its rally?
Share your opinion—I’d love to hear your thoughts!
Trade active
Note
.Trade closed: target reached
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Trade like you mean it – because every second matters.
📊 Instant insights.
📬 Precision signals.
👨🏫 Real coaching. Real results.
👉🏻Join here: t.me/+jBAj1Jdf4vY1NzM1
📊 Instant insights.
📬 Precision signals.
👨🏫 Real coaching. Real results.
👉🏻Join here: t.me/+jBAj1Jdf4vY1NzM1
Related publications
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.