Gold is looking strong heading into the next few weeks. Real-world catalysts are stacking up:
Central banks are still aggressively buying gold (China and other BRICS nations are steadily increasing reserves).
Geopolitical tensions (Middle East, Russia/Ukraine) are keeping safe-haven demand alive.
U.S. economic data is showing signs of a slowdown — with weaker job reports and cooling inflation, expectations for rate cuts later this year are rising.
The dollar has softened a bit recently, giving gold room to breathe.
Technically, gold is holding key support levels and building momentum for a potential breakout. If economic data continues to weaken or geopolitical risks stay elevated, gold could quickly retest recent highs.
Central banks are still aggressively buying gold (China and other BRICS nations are steadily increasing reserves).
Geopolitical tensions (Middle East, Russia/Ukraine) are keeping safe-haven demand alive.
U.S. economic data is showing signs of a slowdown — with weaker job reports and cooling inflation, expectations for rate cuts later this year are rising.
The dollar has softened a bit recently, giving gold room to breathe.
Technically, gold is holding key support levels and building momentum for a potential breakout. If economic data continues to weaken or geopolitical risks stay elevated, gold could quickly retest recent highs.
Trade active
Looking good so far.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.