Hello everyone, what are your thoughts on 
XAUUSD ?
During the trading session on February 2, gold prices continued to slide sharply. At the time of writing, gold has fallen to around 4,650 USD, down nearly 7.5% from last week’s close and more than 250 USD in total.
This marks the most aggressive selloff in history, occurring just two days after the metal recorded a record-high surge.
Such a rapid price increase over a very short period — especially within the first month of the year — is not sustainable. Therefore, the current correction is inevitable. Previously, both gold and silver were pushed into overbought territory, with gains of nearly 20% and over 40%, respectively.
From a technical perspective, gold is now returning to a key support zone along the trendline, an important level to monitor closely. If this trendline is broken, gold buying will be paused temporarily, waiting for confirmation of a new bottom. On the other hand, if buyers manage to defend support around the trendline, this would serve as a strong confirmation for a renewed bullish move above the 4,500 USD level.
What’s your view?
XAUUSD ?During the trading session on February 2, gold prices continued to slide sharply. At the time of writing, gold has fallen to around 4,650 USD, down nearly 7.5% from last week’s close and more than 250 USD in total.
This marks the most aggressive selloff in history, occurring just two days after the metal recorded a record-high surge.
Such a rapid price increase over a very short period — especially within the first month of the year — is not sustainable. Therefore, the current correction is inevitable. Previously, both gold and silver were pushed into overbought territory, with gains of nearly 20% and over 40%, respectively.
From a technical perspective, gold is now returning to a key support zone along the trendline, an important level to monitor closely. If this trendline is broken, gold buying will be paused temporarily, waiting for confirmation of a new bottom. On the other hand, if buyers manage to defend support around the trendline, this would serve as a strong confirmation for a renewed bullish move above the 4,500 USD level.
According to surveys, market experts remain cautiously optimistic. Out of 18 analysts participating in the Kitco News Gold Survey, 7 experts (about 39%) expect gold prices to return to the 5,000 USD area; another 7 analysts anticipate further downside; while the remaining 4 analysts (around 22%) believe gold may move sideways.
What’s your view?
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.