Gold prices surged sharply on June 12 following positive FOMC and CPI results, closing at 3,429 – up more than 1.2%. The technical structure remains firmly within an ascending channel on the 8H chart, with higher lows consistently supported by the EMA34 and trendline.
The 3,488–3,515 resistance zone will be a key test in the coming sessions. If price breaks and holds above this level, the next target will be new highs. Conversely, a minor pullback toward the 3,348 area – aligned with the trendline and EMA – may offer a trend-following buy opportunity if confirmed by price action.
Gold is receiving strong support from cooler U.S. CPI data, which has boosted expectations that the Fed may cut interest rates soon. Additionally, geopolitical tensions in the Middle East and bullish outlooks from major institutions continue to reinforce gold’s safe-haven appeal.
The 3,488–3,515 resistance zone will be a key test in the coming sessions. If price breaks and holds above this level, the next target will be new highs. Conversely, a minor pullback toward the 3,348 area – aligned with the trendline and EMA – may offer a trend-following buy opportunity if confirmed by price action.
Gold is receiving strong support from cooler U.S. CPI data, which has boosted expectations that the Fed may cut interest rates soon. Additionally, geopolitical tensions in the Middle East and bullish outlooks from major institutions continue to reinforce gold’s safe-haven appeal.
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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.