GOLD: Watching The Support Zone for the Next Move

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GOLD: Watching The Support Zone for the Next Move

Gold has pulled back sharply after yesterday’s aggressive selloff, but price is now sitting right on a strong support zone.

This area aligns with the previous structure and could act as a launch point if buyers step back in.

If this zone holds, gold may attempt another push toward the 4,150 resistance and potentially break higher into the upper targets.

However, a break below the support could expose the 4,025 level and even the deeper psychological zone near 3,900.

Key Targets :

4,150
4,230
4,296
4,361

You may find more details in the chart!
Thank you and Good Luck!

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10 ore fa

Trade attivo

9 ore fa

Nota

📣GOLD Price Outlook

Gold remained relatively unchanged on Monday as traders looked ahead to a heavy lineup of U.S. economic releases that could offer clues about the Federal Reserve’s future rate decisions. This comes after the metal dropped more than 2% in the previous session amid fading expectations for near-term rate cuts.

Prices are holding firm, supported by safe-haven demand as investors turn to gold to shield themselves from ongoing market uncertainty. This renewed interest helped counterbalance the pressure from a stronger U.S. dollar and diminished hopes for Fed easing.

Meanwhile, Morgan Stanley forecasts that gold could reach $4,500 per ounce by the end of 2025.

Gold remains well supported by a bullish sentiment as long as it defends the 4050 support area.