Hello traders, the gold market is currently in a sensitive phase, still influenced by Fed Chair Jerome Powell’s remarks at Jackson Hole, signaling that monetary tightening could ease if the labor market weakens. This has pushed U.S. bond yields lower and weakened the dollar, allowing gold to remain elevated.
Adding to this, rising geopolitical tensions are fueling bullish momentum for gold, providing a solid foundation for recovery if global risks persist.
On the chart, gold is trading around $3,370, after bouncing strongly from the $3,321 support. This zone is becoming a “launchpad” for the next leg higher, especially as gold holds above key EMA levels.
The price structure outlines a bullish scenario with resistance targets:
$3,400 (psychological level – short-term take profit zone)
$3,433 (extended target – next strong resistance)
If the Fed maintains its dovish tone and the dollar stays weak, gold could sustain its upward momentum in the short term, opening the door to higher levels into September.
Adding to this, rising geopolitical tensions are fueling bullish momentum for gold, providing a solid foundation for recovery if global risks persist.
On the chart, gold is trading around $3,370, after bouncing strongly from the $3,321 support. This zone is becoming a “launchpad” for the next leg higher, especially as gold holds above key EMA levels.
The price structure outlines a bullish scenario with resistance targets:
$3,400 (psychological level – short-term take profit zone)
$3,433 (extended target – next strong resistance)
If the Fed maintains its dovish tone and the dollar stays weak, gold could sustain its upward momentum in the short term, opening the door to higher levels into September.
Trade active
Trade closed: target reached
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📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
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Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
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.