Hello everyone, what do you think about gold prices?
Yesterday, gold ended the session near the key psychological level of 3,400 USD. Overall, the metal remains in a short-term uptrend.
Some immediate supporting factors include:
-Concerns about the US economy – The Fed may soon have to cut interest rates, weakening the USD and making gold more attractive.
-Geopolitical uncertainty – Trade tensions between the US and India over Russian oil imports are prompting investors to turn to gold.
-Financial market volatility – Global equities show signs of a pullback after a strong rally, driving defensive capital flows into gold to reduce portfolio risk.
From a technical perspective: XAUUSD is maintaining a steady upward trend after breaking out of its previous down channel and forming a Rising Wedge pattern. On the chart, prices are consistently creating higher highs and higher lows, with the range narrowing over time — a sign that the market is consolidating before a potential breakout.
Currently, the lower boundary of the wedge is acting as support. If prices hold above this level, the primary scenario remains a move higher toward the 3,433 to 3,450 USD resistance zone. Conversely, if the wedge’s support is broken, the price could retrace to 3,350 USD before the uptrend resumes.
And you — what’s your view on XAUUSD’s next move? Share your thoughts in the comments!
Yesterday, gold ended the session near the key psychological level of 3,400 USD. Overall, the metal remains in a short-term uptrend.
Some immediate supporting factors include:
-Concerns about the US economy – The Fed may soon have to cut interest rates, weakening the USD and making gold more attractive.
-Geopolitical uncertainty – Trade tensions between the US and India over Russian oil imports are prompting investors to turn to gold.
-Financial market volatility – Global equities show signs of a pullback after a strong rally, driving defensive capital flows into gold to reduce portfolio risk.
From a technical perspective: XAUUSD is maintaining a steady upward trend after breaking out of its previous down channel and forming a Rising Wedge pattern. On the chart, prices are consistently creating higher highs and higher lows, with the range narrowing over time — a sign that the market is consolidating before a potential breakout.
Currently, the lower boundary of the wedge is acting as support. If prices hold above this level, the primary scenario remains a move higher toward the 3,433 to 3,450 USD resistance zone. Conversely, if the wedge’s support is broken, the price could retrace to 3,350 USD before the uptrend resumes.
And you — what’s your view on XAUUSD’s next move? Share your thoughts in the comments!
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✅ Receive 7–10 high-quality signals daily for Forex, Gold, and Bitcoin
✅ Fast updates, accurate alerts
✅ Suitable for both beginners and experienced traders
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t.me/+6v7LMJO7cI04Nzg1
✅ Fast updates, accurate alerts
✅ Suitable for both beginners and experienced traders
👉 Join now by clicking this link:
t.me/+6v7LMJO7cI04Nzg1
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.