Gold exhibits a strong bullish trend and is currently at elevated price levels. However, the prevailing macroeconomic uncertainty aligns with investors' tendency to seek gold as a safe-haven asset. Applying fractal market analysis and projecting the initial structural development suggests a potential technical target in the $3,200 zone. Nevertheless, given gold's current high valuation, a retracement is plausible. We will continue to monitor the market.
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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.