XAU may rise further in the short term

Gold is under pressure from weakness in global equities. However, the trend in gold prices remains bullish and these losses are only corrective. on the yellow metal’s resistance levels above $2,510/oz and expect gold prices to break $2,543/oz soon. The current environment is risky for most popular commodities and gold offers the best protection against depreciation. Accordingly, gold stands out as the commodity where Goldman Sachs has the highest confidence in the near-term upside. They continue to maintain their upside target of $2,700/oz by early 2025 and have opened a gold trading recommendation for three reasons.

노트

BUY XAU 2515 - 2513
TP1; 2523
TP2: 2529
SL: 2505

노트

running + 60 pips