Gold Rally on Weaker Dollar and Strong Chinese Investor Demand
Gold Futures Climb on Weaker Dollar, Robust Demand from Chinese Retail Investors
Chinese retail investors continue to favor gold as a safe haven amid ongoing concerns about the real estate market, even shifting away from traditional investments like diamonds in favor of the yellow metal.
Technical Analysis: Gold
Current Outlook:
The price has reversed sharply due to the factors mentioned above, maintaining its bullish momentum and approaching a potential all-time high (ATH).
Bullish Scenario:
If the price remains above 2,475, the bullish trend is confirmed, with targets at 2,484 and 2,493. A sustained close above 2,493 could propel the price toward 2,526.
Bearish Scenario:
A bearish trend could emerge if the price stabilizes below 2,466. Otherwise, stability above this level would keep the price oscillating between 2,475 and 2,493.
Key Levels:
- Pivot Line: 2475
- Resistance Levels: 2484, 2493, 2525
- Support Levels: 2466, 2450, 2442
Today's Expected Trading Range:
The price is expected to fluctuate between 2,466 and 2,525.
Trend: Bullish while above 2,475.
Chinese retail investors continue to favor gold as a safe haven amid ongoing concerns about the real estate market, even shifting away from traditional investments like diamonds in favor of the yellow metal.
Technical Analysis: Gold
Current Outlook:
The price has reversed sharply due to the factors mentioned above, maintaining its bullish momentum and approaching a potential all-time high (ATH).
Bullish Scenario:
If the price remains above 2,475, the bullish trend is confirmed, with targets at 2,484 and 2,493. A sustained close above 2,493 could propel the price toward 2,526.
Bearish Scenario:
A bearish trend could emerge if the price stabilizes below 2,466. Otherwise, stability above this level would keep the price oscillating between 2,475 and 2,493.
Key Levels:
- Pivot Line: 2475
- Resistance Levels: 2484, 2493, 2525
- Support Levels: 2466, 2450, 2442
Today's Expected Trading Range:
The price is expected to fluctuate between 2,466 and 2,525.
Trend: Bullish while above 2,475.
my free signals channel telegram
t.me/Srosh_signals
~6 analyses per day. With a clear entry point
more than 1000 pip per week —— Accuracy +88%
SM World and Economy News 24/7
Urgent News ⚡️:
t.me/SM_News_24h
t.me/Srosh_signals
~6 analyses per day. With a clear entry point
more than 1000 pip per week —— Accuracy +88%
SM World and Economy News 24/7
Urgent News ⚡️:
t.me/SM_News_24h
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.