The outlook for gold is currently biased towards the upside. This bullish bias comes after a brief correction and is fueled by:
Entry: 2407.97
TP1: 2420.98
TP2: 2432.89
Stop: 2403.63
- - Rate cut expectations: Recent economic data suggests disinflation, leading investors to believe the Federal Reserve will cut interest rates. Lower rates typically benefit gold prices.
- - Geopolitical tensions: While tensions have eased recently, they still provide underlying support for gold as a safe-haven asset.
- - Technical indicators: Several technical indicators, like the price being above key moving averages, point towards a potential price increase.
Entry: 2407.97
TP1: 2420.98
TP2: 2432.89
Stop: 2403.63
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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.