Hello everyone, following Jerome Powell’s speech at the Jackson Hole symposium yesterday, the gold market experienced a sharp rally. Powell hinted at potential rate cuts, weakening the USD and opening a strong opportunity for gold. Currently, gold is trading around $3,345, and if it breaks through the Fair Value Gap between $3,340 – $3,350, the bullish trend will be confirmed, with the next target at $3,370.
Rising trading volumes in recent candles indicate buyers are in control. Meanwhile, Ichimoku cloud signals still confirm an upward momentum as gold prices remain above the cloud, reflecting sustained bullish strength.
With both Fed policy signals and strong technical indicators, gold is likely to extend its rally in the near term. If the price holds above $3,350, reaching $3,370 is just a matter of time.
What’s your view on the current gold trend? Share your thoughts below.
Rising trading volumes in recent candles indicate buyers are in control. Meanwhile, Ichimoku cloud signals still confirm an upward momentum as gold prices remain above the cloud, reflecting sustained bullish strength.
With both Fed policy signals and strong technical indicators, gold is likely to extend its rally in the near term. If the price holds above $3,350, reaching $3,370 is just a matter of time.
What’s your view on the current gold trend? Share your thoughts below.
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📬 Precision signals.
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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.