GOLD Weekly OUTLOOK

28 apr

XAUUSD
market made a notable decline over the week, but it has now rebounded from the key support level at 2300. It's probable that we might see further consolidation because any market cannot move straight up for a long time; it moves in ebbs and flows. This consolidation will likely involve the typical sideways movement and market noise of the gold market. Following a rapid price surge, establishing support and resistance levels prior to attracting new bulls becomes essential. I think while geopolitical factors could impact the market, the massive downside risk might be expected to be minimal, even though we can expect some volatility in the market.