Gold extended its record-breaking rally to a fresh high of ~$5,620 on Thursday, driven by a perfect storm of dollar weakness, Fed uncertainty, and escalating geopolitical risks. In this video, we analyse why the precious metal is surging despite the Fed holding rates and map out the long-term path to the psychological $6,000 target.
Key topics:
Fundamental catalyst: How the Fed’s decision to hold rates, marred by two dissents and the ongoing investigation into Chair Powell, has shattered confidence in the central bank.
Geopolitics & dollar: We discuss the impact of President Trump’s "speed and violence" warning to Iran and why the US dollar has collapsed to 4-year lows despite "strong dollar" rhetoric from the Treasury.
Weekly chart: A look at the multi-year Elliott Wave 5 structure. We have cleared the 3.618 extension at 5,350 and are now eyeing the 4.236 Fibonacci extension, which aligns perfectly with $6,000.
Short-term setup: On the 4-hour chart, price is testing the 200% extension near $5,600. And guess what? The 261.8% also aligns with the $6,000 mark. But we identify the key support levels that must hold to sustain this parabolic move.
Is the move to $6k inevitable, or is a pullback due? Let us know in the comments!
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Key topics:
Fundamental catalyst: How the Fed’s decision to hold rates, marred by two dissents and the ongoing investigation into Chair Powell, has shattered confidence in the central bank.
Geopolitics & dollar: We discuss the impact of President Trump’s "speed and violence" warning to Iran and why the US dollar has collapsed to 4-year lows despite "strong dollar" rhetoric from the Treasury.
Weekly chart: A look at the multi-year Elliott Wave 5 structure. We have cleared the 3.618 extension at 5,350 and are now eyeing the 4.236 Fibonacci extension, which aligns perfectly with $6,000.
Short-term setup: On the 4-hour chart, price is testing the 200% extension near $5,600. And guess what? The 261.8% also aligns with the $6,000 mark. But we identify the key support levels that must hold to sustain this parabolic move.
Is the move to $6k inevitable, or is a pullback due? Let us know in the comments!
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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การนำเสนอที่เกี่ยวข้อง
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน