Gold inched lower on Friday on some profit-taking, but was on track for a weekly rise as uncertainty around U.S. President Donald Trump’s tariff plans firmed demand, while investors awaited U.S. non-farm payrolls data.
From a technical standpoint, gold is expected to reject the 2923 level and move toward 2893 as part of a corrective phase.
The sustained movement of gold within this range has led to the formation of a strong consolidation zone, indicating the necessity of a significant breakout in either direction—whether upward or downward.
Overall, a short-term correction is anticipated, followed by a substantial upward movement, potentially reaching the next major resistance level at 2954.
Bearish target: 2923, 2935, 2954
Bullish target: 2893, 2879, 2858
Today, gold is more volatile than on any other day, exhibiting unpredictable fluctuations. This heightened volatility may be driven by key U.S. economic data releases, which could significantly impact market dynamics. Additionally, upcoming speeches from Fed Chair Powell and President Trump, along with the Federal Reserve’s Monetary Policy Report, may further influence market sentiment. Given these factors, caution and effective risk management are strongly advised.
🔴Traders, if you find this analysis helpful or have your own insights, drop a comment below! I’d love to hear your thoughts.
From a technical standpoint, gold is expected to reject the 2923 level and move toward 2893 as part of a corrective phase.
The sustained movement of gold within this range has led to the formation of a strong consolidation zone, indicating the necessity of a significant breakout in either direction—whether upward or downward.
Overall, a short-term correction is anticipated, followed by a substantial upward movement, potentially reaching the next major resistance level at 2954.
Bearish target: 2923, 2935, 2954
Bullish target: 2893, 2879, 2858
Today, gold is more volatile than on any other day, exhibiting unpredictable fluctuations. This heightened volatility may be driven by key U.S. economic data releases, which could significantly impact market dynamics. Additionally, upcoming speeches from Fed Chair Powell and President Trump, along with the Federal Reserve’s Monetary Policy Report, may further influence market sentiment. Given these factors, caution and effective risk management are strongly advised.
🔴Traders, if you find this analysis helpful or have your own insights, drop a comment below! I’d love to hear your thoughts.
Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
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.
Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
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.