GOLD → Consolidation forms a trigger. Rally?

continues to rise amid weakening dollar demand due to Trump's imposition of new tariffs. GDP and Initial Jobless Claims ahead

GOLD → Price returns to the channel to form a bullish structure

Gold is further supported by renewed concerns about a slowdown in the US economy due to trade duties. However, growth beyond ATH remains questionable due to geopolitical nuances.
The market focus shifts to macroeconomic data: the final US GDP for the fourth quarter and jobless claims will be released today. Also the attention will be drawn to the speeches of the Fed representatives, who earlier made it clear that they are in no hurry to cut rates due to inflation risks caused by Trump's tariff policy

Resistance levels: 3038, 3046, 3056
Support levels: 3033, 3025

The strong resistance is 3038. Breakdown and price consolidation above this level will provoke continuation of growth (there is a chance of ATH retest). But, since there is news ahead, gold may test the zone of interest and liquidity 3030-3025 before further growth.

Regards R. Linda!

Trade active

Gold breaks through the indicated resistance of 3038 and reaches ATH
Realization 100% :)

Note:
If there is no deep pullback and the price continues to consolidate near ATH, the level may be broken and the rise may continue

Trade closed: target reached

RLinda

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