XAUUSD Good day! Gold closed above 2635, showing solid bullish momentum fueled by panic buying. Today, it’s trading above 2650 and heading towards a high-volume zone in the 2672-2682 range. The range is quite wide and hasn’t shrunk, so gold can go either way. I'll suggest buying around 2637-2640 with a tight stop at 2630 or Selling in the 2672-2682 zone with a tight stop at 2695, targeting 2655. If neither zone comes into play today, just stay out. No trades otherwise.
XAUUSD Gold to Re-Test 2700? Gold is up today, but silver and miners (like GDX and GDXJ) are down. Why? Likely because the S&P 500 is dipping slightly, dragging the miners with it since they’re more stock-market sensitive. GDXJ are down 0.95%, more than GDX.
Gold’s strength, even with a rising USD today, signals the rally isn’t done yet. It could climb to $2,700 61.8% Fibonacci retracement. Near-term, things look bullish, with the recent breakout confirming Thursday’s bottom. However, global stocks suggest keeping this focus short-term.