GOLD → The northbound train continues to make its way to 3K for FX:XAUUSD by RLinda

GOLD → The northbound train continues to make its way to 3K

continues its aggressive rally. The reasons for growth are the same as before - high economic risks. The price is getting closer and closer to the cherished goal of $3000.

GOLD → Price enters buying zone ahead of NonFarms

Gold exceeded $2,850 at the beginning of the week in the U.S., but its growth is limited by the strengthening of the dollar due to increased trade risks.Trump announced new 25% tariffs on imports of steel and aluminum.
Gold is further supported by rising PBOC reserves and expectations of stimulus from China. However, the dollar may continue to strengthen ahead of US inflation data, limiting gold gains. Expectations of a dovish Fed and trade risks will help contain gold's decline.
Technically, the next two levels are important for us: the psychological level of 2900 and the key support of 2882.

Resistance levels: 2900 (not confirmed)
Support levels: 2882, 2870, 2855

The bulls can consolidate above 2900 without a pullback and continue the rally, but the most likely scenario is a false break of 2900, correction to 2882 to accumulate liquidity before continuing the rally northward

Regards R. Linda!

RLinda

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