GOLD | Bulls Attempt Recovery, but Fed Outlook Still Caps Upside
Gold is on track for its fourth consecutive weekly loss as expectations for higher U.S. interest rates continue to weigh on the precious metal.
Although buyers have started to recover from recent lows, the broader outlook remains sensitive to Federal Reserve policy and U.S. economic data. Higher-for-longer interest rate expectations continue to support the U.S. dollar, limiting upside for non-yielding assets such as gold.
Technically
Gold has started a short-term bullish recovery while trading above the 4,034 - 4,026 support zone.
As long as the price remains above this area, bullish momentum is expected to continue toward 4,094.
However, buyers must stabilize above 4,094 to confirm a stronger recovery toward 4,127 and 4,200.
If the market fails to hold above 4,094, a bearish correction is likely to send prices back toward 4,034 - 4,026.
A confirmed break below 4,026 would invalidate the bullish scenario and expose the next downside target at 3,921.
Gold is on track for its fourth consecutive weekly loss as expectations for higher U.S. interest rates continue to weigh on the precious metal.
Although buyers have started to recover from recent lows, the broader outlook remains sensitive to Federal Reserve policy and U.S. economic data. Higher-for-longer interest rate expectations continue to support the U.S. dollar, limiting upside for non-yielding assets such as gold.
Technically
Gold has started a short-term bullish recovery while trading above the 4,034 - 4,026 support zone.
As long as the price remains above this area, bullish momentum is expected to continue toward 4,094.
However, buyers must stabilize above 4,094 to confirm a stronger recovery toward 4,127 and 4,200.
If the market fails to hold above 4,094, a bearish correction is likely to send prices back toward 4,034 - 4,026.
A confirmed break below 4,026 would invalidate the bullish scenario and expose the next downside target at 3,921.
Trade attivo
GOLD | Fed Rate-Hike Bets Keep Pressure on Gold Despite Gulf CeasefireGold traded lower on Monday as expectations for additional Federal Reserve rate hikes continued to pressure the precious metal, outweighing the traditional safe-haven appeal.
Although the U.S. and Iran have agreed to halt recent hostilities and resume negotiations over the Strait of Hormuz, investors remain cautious as uncertainty persists over whether a lasting agreement can be reached.
Meanwhile, markets continue to price in three Federal Reserve rate hikes this year, with expectations that higher interest rates will keep supporting the U.S. dollar and reduce the attractiveness of non-yielding assets such as gold.
Technically
Gold remains highly volatile and is currently consolidating within the 4,026 - 4,061 range.
A confirmed 1H or 15min candle close below 4,026 would strengthen the bearish outlook and support a move toward 3,990.
A break below 3,990 would expose the next downside target at 3,921, followed by 3,885.
However, if buyers manage to break above 4,061 and 4,096, bullish momentum could develop toward 4,173 and 4,202.
Technical & Macro Market Analyst specializing in Gold, U.S. Indices, and Forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
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Technical & Macro Market Analyst specializing in Gold, U.S. Indices, and Forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.