Gold Price Outlook Amid Uncertainty
Gold prices are currently navigating a phase of uncertainty, with a notable resistance zone ahead that could limit further upside and potentially trigger a decline. Since the start of the session, the price has seen a modest recovery following a week-long downturn.
Growth is being influenced by two contrasting forces:
Bullish Factors: Ongoing pressure on the U.S. dollar and the recent credit rating downgrade by Moody's are lending support to gold as a safe-haven asset.
Resistance zone 3245 / 3260
Support Levels 3200 / 3172
Bearish Factors: Conversely, elevated U.S. bond yields and props
acts of new U.S. trade agreements are tempering gold's upward momentum.
Hope you see more detail in the chart PS support with like and comments for more insights.
Gold prices are currently navigating a phase of uncertainty, with a notable resistance zone ahead that could limit further upside and potentially trigger a decline. Since the start of the session, the price has seen a modest recovery following a week-long downturn.
Growth is being influenced by two contrasting forces:
Bullish Factors: Ongoing pressure on the U.S. dollar and the recent credit rating downgrade by Moody's are lending support to gold as a safe-haven asset.
Resistance zone 3245 / 3260
Support Levels 3200 / 3172
Bearish Factors: Conversely, elevated U.S. bond yields and props
acts of new U.S. trade agreements are tempering gold's upward momentum.
Hope you see more detail in the chart PS support with like and comments for more insights.
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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.
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.