XAUUSD is trading within an ascending channel, recently bouncing off the support zone around 3,360 USD and heading towards higher levels. The price structure maintains higher highs and higher lows, indicating that the bullish trend is likely to continue.
Weak U.S. employment data and a rise in unemployment claims have fueled expectations that the Fed will cut interest rates in September, weakening the USD and making gold more attractive. Analysts predict that gold could reach higher levels due to concerns over slow growth in the U.S. and the weakening of the USD. Additionally, trading volumes for gold have surged, indicating strong investor interest. Geopolitical tensions are also increasing gold's appeal as a safe-haven asset.
Gold is currently testing resistance around 3,400–3,425 USD, and if it breaks through, the bullish trend could continue towards 3,500 USD.
Weak U.S. employment data and a rise in unemployment claims have fueled expectations that the Fed will cut interest rates in September, weakening the USD and making gold more attractive. Analysts predict that gold could reach higher levels due to concerns over slow growth in the U.S. and the weakening of the USD. Additionally, trading volumes for gold have surged, indicating strong investor interest. Geopolitical tensions are also increasing gold's appeal as a safe-haven asset.
Gold is currently testing resistance around 3,400–3,425 USD, and if it breaks through, the bullish trend could continue towards 3,500 USD.
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Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
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🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
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.