Gold Short Term Outlook

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Yesterday, gold staged a strong rally, pushing up toward 3,377, which was followed by a strong rejection. Price has pulled back sharply and is now testing the Pullback Zone once again.

Currently trading around 3,329, price is caught between the 50MA overhead acting as dynamic resistance and the 200MA below offering dynamic support.

For the bullish structure to regain momentum, we need to see a clean break and hold back above 3,354. This would reopen the path toward 3,383 and 3,400, with 3,416 as a higher‑timeframe target.

If buyers fail to defend the Pullback Support Zone, and price breaks decisively below 3,305, attention shifts to the Support Zone (3,289–3,267). A deeper selloff could then expose the HTF Support Zone (3,241–3,208).

📌 Key Levels to Watch

Resistance:
‣ 3,354
‣ 3,383
‣ 3,400
‣ 3,416

Support:
‣ 3,335
‣ 3,305
‣ 3,289
‣ 3,267
‣ 3,241

🔎 Fundamental Focus – High‑Impact U.S. Data Today
A packed U.S. calendar could drive volatility:

📌Core Retail Sales m/m and Retail Sales m/m

📌Unemployment Claims

📌Philly Fed Manufacturing Index

These red‑folder releases can create sharp intraday swings.
Additionally, multiple FOMC member speeches later in the session could add headline‑driven moves.

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