GOLD – Fragile Recovery Faces Dual Pressure
Gold shows mild recovery following a week of losses, yet upside remains capped. Dollar softness and Moody’s U.S. downgrade offer tailwinds, but elevated bond yields and optimism over potential U.S. trade deals act as brakes.
Traders await Fed remarks and developments in U.S. trade talks. Despite fiscal worries and weak data that could buoy gold, any breakthrough on trade might quickly flip sentiment.
Key zones:
Resistance – 3257, 3265
Support – 3206, 3153
A failed breakout above 3265 followed by a pullback below 3257 may signal a momentum shift, opening the door for deeper losses.
Gold shows mild recovery following a week of losses, yet upside remains capped. Dollar softness and Moody’s U.S. downgrade offer tailwinds, but elevated bond yields and optimism over potential U.S. trade deals act as brakes.
Traders await Fed remarks and developments in U.S. trade talks. Despite fiscal worries and weak data that could buoy gold, any breakthrough on trade might quickly flip sentiment.
Key zones:
Resistance – 3257, 3265
Support – 3206, 3153
A failed breakout above 3265 followed by a pullback below 3257 may signal a momentum shift, opening the door for deeper losses.
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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.
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.