Gold is currently undergoing a correction on the buy side, with price action suggesting the potential for further upside. The market is showing bullish momentum amid rising global uncertainty.
Dovish Fed Expectations: Increasing speculation around potential Fed rate cuts, along with discussions about leadership changes (including the possible replacement of Kugler and Powell), is contributing to a more accommodative outlook. Geopolitical & Trade Tensions: Continued escalation of global trade conflicts is boosting demand for safe-haven assets like gold, adding to bullish pressure.
If the price holds above the 3370–3380 support zone, bullish continuation toward 3420/3440 is likely in the short term.
You May find more details in the chart.
Ps; Support with like and comments for better analysis
Dovish Fed Expectations: Increasing speculation around potential Fed rate cuts, along with discussions about leadership changes (including the possible replacement of Kugler and Powell), is contributing to a more accommodative outlook. Geopolitical & Trade Tensions: Continued escalation of global trade conflicts is boosting demand for safe-haven assets like gold, adding to bullish pressure.
If the price holds above the 3370–3380 support zone, bullish continuation toward 3420/3440 is likely in the short term.
You May find more details in the chart.
Ps; Support with like and comments for better analysis
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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.