On the chart, gold has broken through the previous small downtrend channel, opening up new opportunities for a rally. The $3,360 level has become a key support, while the nearest resistance targets are at $3,430 and $3,458. The current price structure shows a clear "break & retest" scenario, with buying momentum dominating as gold stays above key EMA levels.
Supporting News for Gold's Bullish Trend:
The weakening USD, declining U.S. bond yields, rising geopolitical tensions, and the potential for a Fed rate cut have created favorable conditions for gold's upward movement. Fed Chairman Jerome Powell's comments at Jackson Hole signaled that the Fed could ease tightening if the labor market weakens, strongly supporting gold's bullish trend.
Trading Strategy:
Buy on dip around $3,360–$3,365.
Target at $3,430 and $3,458.
Stop-loss below $3,350 to manage risk.
If the Fed maintains its dovish tone and the USD remains weak, gold is likely to continue its upward momentum in the short term, opening the door for higher price levels in September.
Supporting News for Gold's Bullish Trend:
The weakening USD, declining U.S. bond yields, rising geopolitical tensions, and the potential for a Fed rate cut have created favorable conditions for gold's upward movement. Fed Chairman Jerome Powell's comments at Jackson Hole signaled that the Fed could ease tightening if the labor market weakens, strongly supporting gold's bullish trend.
Trading Strategy:
Buy on dip around $3,360–$3,365.
Target at $3,430 and $3,458.
Stop-loss below $3,350 to manage risk.
If the Fed maintains its dovish tone and the USD remains weak, gold is likely to continue its upward momentum in the short term, opening the door for higher price levels in September.
Trade active
Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 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.
Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 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.