Gold (XAU) Value Forecast: Bulls Eye $three,500 as Greenback Weakens on Fed Turmoil…

Regardless of being far above its key help ranges—pivot help at $three,177.23 and the 50-day MA at $three,015.58—the gold market just isn’t displaying typical indicators of exhaustion. As a substitute of cooling, traders are utilizing upside breakouts so as to add positions. Whereas positioning could seem crowded, there isn’t any technical reversal sample but to recommend a high.

Gold Costs Forecast: Bullish Bias Stays Intact

With the greenback underneath stress, Fed credibility in query, and geopolitical dangers escalating, the outlook for gold stays bullish. The following potential goal for bulls sits round $three,500, in accordance with UBS, and except a confirmed reversal sample emerges, merchants are prone to proceed shopping for dips. Greenback weak point stays the first driver, and till that adjustments, gold’s rally reveals no indicators of topping out.

Extra Info in our Financial Calendar.