GOLD yeah, and now we reached to Our target 2700, Buyers can Book their profits now, Bought from 2653 tp 2700 Done, Next move is 2710, But for now buyers Close Your positions..and dont enter in sell now .
Fundamentals: Gold price (XAU/USD) continues to attract safe-haven flows for the fifth consecutive day, rising toward the $2,700 level. The escalating conflict between Russia and Ukraine strengthens risk aversion, supporting gold’s price rally. Investors are also closely monitoring geopolitical developments and upcoming PMI data releases.
Expectations that newly elected U.S. President Donald Trump’s expansionary policies might reignite inflationary pressures further boost gold’s appeal as a hedge against inflation. Despite the ongoing strength in the U.S. dollar (USD), which has reached its highest level since October 2023, gold bulls remain unfazed. Additionally, speculation that higher inflation could limit the Federal Reserve’s (Fed) ability to cut interest rates further supports U.S. Treasury yields, yet has little impact on gold’s current positive momentum.
Technical Analysis: • Resistances: • $2,700 – Psychological level and key barrier for further upside. • $2,710–2,711 – Supply zone, the next target for bulls. • $2,736–2,737 – Another critical resistance level.
• Supports: • $2,665 – Broken confluence of the 50% Fibonacci retracement and the 100-SMA (4-hour chart), now a key support level. • $2,635–2,634 – 38.2% Fibonacci retracement level. • $2,622–2,620 – Intermediate support level. • $2,600 – Psychological level and important support. • $2,560 – 100-day SMA, another major support zone. • $2,537–2,536 – Last week’s low, critical to maintain bullish bias.
Conclusion: Gold prices continue their upward trajectory, with a break above the $2,700 level potentially opening the door to $2,711 and, subsequently, $2,737. On the other hand, failure to hold above $2,665 could trigger a correction toward $2,600 and lower. Geopolitical tensions and inflation expectations remain key drivers for gold’s price action. Market volatility is expected to remain high, with surprises in PMI data or unexpected Fed statements likely to cause sharp market movements.