GOLD IS STILL BULLISH
Updated
hello guys as you can see gold is in an uptrend . after breaking above ma200 and fix it went up to 2672
2672 is strong resistance if price break out this level can go up to my targets
Gold has been bullish over the past few days due to several fundamental factors:
1. Expectations of Lower Interest Rates by the Federal Reserve:
Recent U.S. economic data, such as easing inflation and weaker growth indicators, suggest that the Fed may pause or even consider cutting interest rates. Lower rates benefit gold because it reduces the opportunity cost of holding non-yielding assets like gold.
2. Geopolitical Tensions:
Ongoing geopolitical issues, such as conflicts in the Middle East or global uncertainties, have increased demand for safe-haven assets like gold. Investors tend to flock to gold during times of fear or uncertainty.
3. Weaker U.S. Dollar:
The U.S. dollar has shown some weakness recently, making gold more attractive to buyers in other currencies. A weaker dollar generally supports gold prices.
4. Seasonal Demand and Central Bank Purchases:
Central banks, especially in countries like China and India, continue to increase their gold reserves, providing strong support for gold prices. Additionally, seasonal demand for gold in certain markets may be playing a role
2672 is strong resistance if price break out this level can go up to my targets
Gold has been bullish over the past few days due to several fundamental factors:
1. Expectations of Lower Interest Rates by the Federal Reserve:
Recent U.S. economic data, such as easing inflation and weaker growth indicators, suggest that the Fed may pause or even consider cutting interest rates. Lower rates benefit gold because it reduces the opportunity cost of holding non-yielding assets like gold.
2. Geopolitical Tensions:
Ongoing geopolitical issues, such as conflicts in the Middle East or global uncertainties, have increased demand for safe-haven assets like gold. Investors tend to flock to gold during times of fear or uncertainty.
3. Weaker U.S. Dollar:
The U.S. dollar has shown some weakness recently, making gold more attractive to buyers in other currencies. A weaker dollar generally supports gold prices.
4. Seasonal Demand and Central Bank Purchases:
Central banks, especially in countries like China and India, continue to increase their gold reserves, providing strong support for gold prices. Additionally, seasonal demand for gold in certain markets may be playing a role
Trade active
Target1 achieved +250 pips
Fast profit
Trade closed: target reached
TARGET2 ACHIEVED
+310 PIPS
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