In the coming weeks, XAU/USD (gold) could experience some volatility, with the potential for a small retracement before continuing its upward trajectory. If the market sees a temporary pullback to a key support level, such as the recent low, and the overall market sentiment remains bullish, it's possible the price could rebound and rise toward the target of 2,847.19. However, this will depend on several factors, such as economic data, geopolitical events, and market sentiment surrounding inflation and central bank policies. If these factors align favorably, the price might indeed push higher after a brief consolidation phase. Keep a close watch on momentum and key support/resistance levels for clearer guidance.
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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.