XAUUSD GOLD Outlook: Supported by Central Bank Demand
Gold prices continue to find solid support from strong central bank buying, a trend that has accelerated since the onset of the Israel-Iran conflict. This geopolitical instability, combined with broader global uncertainty, has reinforced gold’s role as a crisis hedge and a store of value in diversified portfolios.
🔍 Fundamental Drivers:
Central Bank Demand: Sustained accumulation by global central banks is acting as a strong floor for prices. Weaker Dollar Risk Any dovish shift from the Fed or weak U.S. data could further support gold upside.
🎯 Potential Targets:
Resistance zone 3415 / 3435 / 3450
Support Level 3365 / 3355
📌 Conclusion:
As long as gold remains above the 3365 support level, the outlook stays bullish. A break above 3402 would open the door for further gains. Traders should watch central bank activity and geopolitical developments closely.
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Gold prices continue to find solid support from strong central bank buying, a trend that has accelerated since the onset of the Israel-Iran conflict. This geopolitical instability, combined with broader global uncertainty, has reinforced gold’s role as a crisis hedge and a store of value in diversified portfolios.
🔍 Fundamental Drivers:
Central Bank Demand: Sustained accumulation by global central banks is acting as a strong floor for prices. Weaker Dollar Risk Any dovish shift from the Fed or weak U.S. data could further support gold upside.
🎯 Potential Targets:
Resistance zone 3415 / 3435 / 3450
Support Level 3365 / 3355
📌 Conclusion:
As long as gold remains above the 3365 support level, the outlook stays bullish. A break above 3402 would open the door for further gains. Traders should watch central bank activity and geopolitical developments closely.
if you like this idea if you have on Opinion About this analysis share in comments Thanks
Trade closed: target reached
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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.