Gold Unlikely to Sustain Long-Term Gains on Israel-Iran Tensions
Despite escalating geopolitical risks, gold’s upside remains limited. Julius Baer's Carsten Menke notes that the recent move is likely driven by short-term speculative and algorithmic flows, not physical safe-haven demand—consistent with historical patterns of brief geopolitical spikes.
Technical Outlook:
Gold is currently trading below 3404, suggesting possible range-bound consolidation between 3404 and 3480.
A 1H close below 3380 could trigger further downside toward 3365 and 3347.
Conversely, a break above 3404 would open the way for a bullish push toward 3448.
Key Levels:
• Pivot: 3381
• Support: / 3365 / 3347 / 3321
• Resistance: 3404/ 3420 / 3448
Despite escalating geopolitical risks, gold’s upside remains limited. Julius Baer's Carsten Menke notes that the recent move is likely driven by short-term speculative and algorithmic flows, not physical safe-haven demand—consistent with historical patterns of brief geopolitical spikes.
Technical Outlook:
Gold is currently trading below 3404, suggesting possible range-bound consolidation between 3404 and 3480.
A 1H close below 3380 could trigger further downside toward 3365 and 3347.
Conversely, a break above 3404 would open the way for a bullish push toward 3448.
Key Levels:
• Pivot: 3381
• Support: / 3365 / 3347 / 3321
• Resistance: 3404/ 3420 / 3448
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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.