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At the start of the week, gold prices saw a decline due to stronger U.S. Treasury yields and a rebound in the U.S. dollar. This led to a moderate pullback from its recent peaks, although the price of gold still remains relatively high historically, influenced by persistent economic and geopolitical uncertainties. Analysts predict that gold prices may rise later...

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Current Market Situation Gold prices have been experiencing a bullish trend, recently approaching the resistance zone of 2397-2400. This movement is significant as it indicates a potential test of this critical resistance level. Scenario 1: Immediate Upward Movement In the first scenario, gold continues its upward trajectory and tests the 2397-2400 resistance...

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Gold price extended its uptrend for the second straight day on Wednesday and hit a three-week high of $2,390 after data revealed by the US Bureau of Labor Statistics showed inflation is ebbing, increasing the odds for a Federal Reserve rate cut in 2024.

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Technical analysis from TradingView highlights that gold recently touched $2,360 and even approached $2,380 before facing some resistance and correcting downwards. Despite this, the sentiment remains that a round bottom pattern may indicate potential growth in prices, with key levels being watched at around $2,365 and $2,379​ (TradingView)​. The ongoing...

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Technical Analysis Support and Resistance Levels: Support Level at $2400: This level has proven to be a strong support as prices have rebounded after reaching this level. It indicates that there is significant buying interest at this price point. Resistance Levels: As gold moves up, the next resistance levels to watch would be around $2450 and $2500. These...

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BUY XAUUSD 2334-2329 Stoploss : 2328 Take Profit 1 : 2340 Take Profit 2: 2360 Take Profit 3: 2375