Gold continues to struggle in maintaining downward momentum, likely due to ongoing global uncertainties—particularly the conflicts in Ukraine and Gaza.
On the weekly timeframe, gold has consistently retreated whenever it approached the descending trendline. However, a newly formed rising trendline, established last week, temporarily halted the metal’s decline.
A decisive break below this rising trendline—followed by a possible retest—could signal a sharp sell-off in gold prices.
Alternatively, gold may attempt another move toward the descending trendline before any significant drop occurs. In either scenario, we anticipate a bearish outlook for gold this week.
Important Reminder: This is NFP (Non-Farm Payroll) week. Volatility is expected, so traders are advised to manage risk carefully and protect their positions.
— From the Trading Desk of InvestmentLive
On the weekly timeframe, gold has consistently retreated whenever it approached the descending trendline. However, a newly formed rising trendline, established last week, temporarily halted the metal’s decline.
A decisive break below this rising trendline—followed by a possible retest—could signal a sharp sell-off in gold prices.
Alternatively, gold may attempt another move toward the descending trendline before any significant drop occurs. In either scenario, we anticipate a bearish outlook for gold this week.
Important Reminder: This is NFP (Non-Farm Payroll) week. Volatility is expected, so traders are advised to manage risk carefully and protect their positions.
— From the Trading Desk of InvestmentLive
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