Gold turns cautious, awaits US-Russia talks, Fedspeak

4 天前

James greets everyone!

Gold prices continue their upward momentum today, currently trading around $2,908, building on the previous recovery. However, gold buyers are turning cautious amid a broad-based rebound in the US Dollar, as markets prepare for the much-anticipated bilateral talks between the US and Russia in Saudi Arabia.

From a technical perspective, gold has surged strongly after confirming support at $2,895. However, it is still too early to establish gains above the $2,910 resistance level. As a result, it wouldn’t be surprising if gold buyers continue to look for opportunities around support levels or liquidity zones within the Bollinger Bands. If this scenario unfolds, we could soon witness a new record high of $2,943, as indicated on the 4-hour chart.

I remain strongly bullish on gold for the upcoming week. Once the current resistance level is broken and establishes new support, nothing will be able to stop gold from climbing even higher. What are your thoughts on this outlook?

3 天前

交易結束：目標達成