Gold price crosses $3,400 due to geopolitical uncertainty
On Friday, gold decisively broke through the $3,400 resistance zone, confirming a bullish wave. This upward movement was fueled by geopolitical tensions, as Israel launched an attack on Iran, followed by Iran’s retaliation targeting Tel Aviv. With the situation still unfolding, the potential for further escalation remains uncertain.
Technical Analysis: Gold continues to show strength, and uncertainty surrounding the Middle East conflict may keep its price above $3,400 for the foreseeable future. This level serves as a pivotal zone, despite overbought conditions.
Looking ahead, gold could climb further to $3,450, $3,470, and potentially retest the top of the structure near $3,490. After that, the next move will depend on how the geopolitical landscape evolves.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
On Friday, gold decisively broke through the $3,400 resistance zone, confirming a bullish wave. This upward movement was fueled by geopolitical tensions, as Israel launched an attack on Iran, followed by Iran’s retaliation targeting Tel Aviv. With the situation still unfolding, the potential for further escalation remains uncertain.
Technical Analysis: Gold continues to show strength, and uncertainty surrounding the Middle East conflict may keep its price above $3,400 for the foreseeable future. This level serves as a pivotal zone, despite overbought conditions.
Looking ahead, gold could climb further to $3,450, $3,470, and potentially retest the top of the structure near $3,490. After that, the next move will depend on how the geopolitical landscape evolves.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
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📣GOLD: Remains Bullish after Trump comments on Truth Social
Yesterday we had news that Iran asked Qatar, Saudi Arabia and Oman to ask the US to pressure Israel to agree to a ceasefire. Reuters cites two Iranian and three regional sources.
Today, Axios reports that Trump is proposing talks with Iran this week on the nuclear deal and a ceasefire.
This news created a pressure on ARIN with the hope that a possible ceasefire could be in the works soon.
However, today, President Trump wrote on Truth Social that he has not approached Iran for “Peace Talks” in any way. He said that was fake news.
After this post, gold rose again considering that war tension is still high between Israel and Iran and there is no hope of a ceasefire anytime soon.
Be careful of any comments from Trump. He is the only one who can bring gold down again.
Gold could rise further to $3,450, $3,470 and potentially retest the upper part of the structure near $3,490.
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
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.