Hello everyone,
Gold extended its rally today, reaching its highest level in 14 years as safe-haven demand soared. The main driver comes from political uncertainty in the US, particularly the looming risk of a government shutdown as Congress struggles to pass a short-term spending bill.
From a technical perspective, gold has broken out of its FVG zone and is approaching the 3,850–3,870 USD resistance area, which now stands as the critical barrier. A decisive break above could open the door toward 3,900 USD or higher. On the downside, the 3,815–3,790 USD range (green FVG) is serving as dynamic support and a cushion for the ongoing bullish momentum.
News flow remains the dominant catalyst. The US budget standoff and shutdown fears raise concerns about disruptions in federal services and the broader economy, prompting investors to flock to gold. At the same time, the dollar is under pressure due to political instability, while weaker US 10-year bond yields and falling oil prices further strengthen the precious metal’s bullish backdrop.
What do you think about gold’s next move? Share your view in the comments!
Gold extended its rally today, reaching its highest level in 14 years as safe-haven demand soared. The main driver comes from political uncertainty in the US, particularly the looming risk of a government shutdown as Congress struggles to pass a short-term spending bill.
From a technical perspective, gold has broken out of its FVG zone and is approaching the 3,850–3,870 USD resistance area, which now stands as the critical barrier. A decisive break above could open the door toward 3,900 USD or higher. On the downside, the 3,815–3,790 USD range (green FVG) is serving as dynamic support and a cushion for the ongoing bullish momentum.
News flow remains the dominant catalyst. The US budget standoff and shutdown fears raise concerns about disruptions in federal services and the broader economy, prompting investors to flock to gold. At the same time, the dollar is under pressure due to political instability, while weaker US 10-year bond yields and falling oil prices further strengthen the precious metal’s bullish backdrop.
What do you think about gold’s next move? Share your view in the comments!
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Trade Gold, Forex, Bitcoin – the market moves fast, grab your edge today!
👉🏻Join here: t.me/+jBAj1Jdf4vY1NzM1
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.