Gold Hits New Record: Should You Buy or Sell in This Hot Market?Namaste traders,
This past week, gold surprised everyone by closing strong. On Friday (19/09), it moved higher again, marking its 5th consecutive weekly gain at $3,683.24/oz, while futures touched $3,718.50/oz. This surge followed the Fed’s rate cut, which many thought would cool the yellow metal. So, is this a genuine rally or just a bull trap?
Fundamentals: Rate Cut Pushes Gold Higher
Lower interest rates reduce the cost of holding gold.
Fed’s dovish signals raised expectations for more easing.
In India, physical gold demand is at a 10-month high, while China also shows strong appetite despite higher prices.
Technical Outlook
Gold broke its downward trendline, signaling bullish continuation. Buyers are in control.
This Week’s View: Focus on buying near-term targets at $372x and $373x, but stay alert to macro news.
Trading Setups (with strict risk management):
Buy Scalp: $3671–$3669 | SL: $3666 | TP: $3674–$3694
Buy Zone: $3657–$3659 | SL: $3647 | TP: $3669–$3709
Sell Scalp: $3713–$3715 | SL: $3719 | TP: $3705–$3785
Sell Zone: $3731–$3733 | SL: $3741 | TP: $3723–$3683
Will gold shine brighter and set another all-time high? Share your view! 👇
