GOLD 3600 ON FIRE!
Gold hit its all-time high at $3,600, driven by expectations of a Fed cut, a weakening dollar, and safe-haven demand. Momentum remains strong, with institutional and ETF fund flows fueling the rally.
Key levels: support at $3,560–3,580 (retest), then $3,520; resistance at $3,650 and $3,700. Quick strategy: buy on dips above $3,560, be wary of CPI/NFP releases and yield spikes. Keep a clean stop-loss (SL) below $3,520.
The gold price at the time of writing was $3,605/Toz.
- Buy if the price moves within the $3,615 range
- Sell if the price moves within the $3,590 range
Resistance 2: $3,625
Resistance 1: $3,615
Support 1: $3,590
Support 2: $3,580
DISCLAIMER
Note: This article is for analytical purposes only and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id