Gold has reached a new all-time high at USD 3,216, fueled by a mix of macroeconomic factors and shifting market sentiment. While prices are stretched in the short term, the broader trend remains bullish. A weaker U.S. dollar could support further gains in the coming weeks. Historically, gold performs well during dollar downtrends and periods of elevated uncertainty.
Risk-off sentiment may soon return as global growth concerns, geopolitical tensions, and sticky inflation resurface. These factors could drive further demand for safe-haven assets like gold. Additionally, central banks have continued to be net buyers of gold, especially in emerging markets looking to diversify away from the dollar.
Although momentum is strong, a retracement toward the 3100–3150 zone could offer a healthier entry point for latecomers. RSI levels suggest overbought conditions, and profit-taking is likely in the near term. However, unless key support zones break, the long-term outlook remains bullish.
Watch for upcoming U.S. economic data and Fed comments—any hint of dovishness could give gold another leg higher. Technically and fundamentally, gold remains well-positioned, especially if markets tilt back toward caution. And tensions might indeed rise in the short term. China has increased tariffs on goods to 125% imported from the US starting this Saturday.
For now, buying dips might be a smarter play than chasing highs. Keep stops tight and targets clear.
Risk-off sentiment may soon return as global growth concerns, geopolitical tensions, and sticky inflation resurface. These factors could drive further demand for safe-haven assets like gold. Additionally, central banks have continued to be net buyers of gold, especially in emerging markets looking to diversify away from the dollar.
Although momentum is strong, a retracement toward the 3100–3150 zone could offer a healthier entry point for latecomers. RSI levels suggest overbought conditions, and profit-taking is likely in the near term. However, unless key support zones break, the long-term outlook remains bullish.
Watch for upcoming U.S. economic data and Fed comments—any hint of dovishness could give gold another leg higher. Technically and fundamentally, gold remains well-positioned, especially if markets tilt back toward caution. And tensions might indeed rise in the short term. China has increased tariffs on goods to 125% imported from the US starting this Saturday.
For now, buying dips might be a smarter play than chasing highs. Keep stops tight and targets clear.
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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.
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.