DeGRAM | GOLD Finished Correcting?📊 Technical Analysis
● After two successful touches of rising-channel support near $3 200, XAU/USD pierced the resistance line and the triangle, confirming a bullish breakout.
● A pattern of higher lows now projects a fresh impulse toward the channel top at ~$3 500.
💡 Fundamental Analysis
● Goldman Sachs forecasts central banks will keep buying bullion amid recession fears, driving gold to $3 700 by year-end.
● Traders price in ~80 bp of Fed rate cuts from July, lowering real yields and bolstering gold’s appeal.
✨ Summary
Channel breakout + strong CB demand and Fed-cut bets support a short-term long bias: a clear break above $3 315 targets $3 500; view invalid below $3 200.
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