Gold -> How Long Will the Adjustment Last? Emphasis on $2,600
Hello, dear friends!
Gold (XAU/USD) extended its recovery early this week, reaching the critical $2,600 mark and ending a six-day losing streak after a false breakout and a retest of $2,546. This rally has been fueled by escalating geopolitical tensions as the U.S. authorized Ukraine to use long-range weapons to strike Russia.
However, the market remains under significant pressure. The USD and bond yields continue to rise, while the Federal Reserve maintains a hawkish stance. Economic struggles in Europe are weakening the euro, driving demand for the USD and further weighing on gold.
This week, the gold market is expected to remain subdued with limited major economic data releases. Key areas to watch include U.S. housing data, the University of Michigan Consumer Sentiment Index, and comments from Federal Reserve officials.
Gold is currently testing the critical resistance zone at $2,600–$2,589. A false breakout here could trigger strong selling, reinforcing bearish momentum. Conversely, a modest pullback followed by a decline to $2,546 would solidify a clearer downtrend. Keep a close watch!
Gold (XAU/USD) extended its recovery early this week, reaching the critical $2,600 mark and ending a six-day losing streak after a false breakout and a retest of $2,546. This rally has been fueled by escalating geopolitical tensions as the U.S. authorized Ukraine to use long-range weapons to strike Russia.
However, the market remains under significant pressure. The USD and bond yields continue to rise, while the Federal Reserve maintains a hawkish stance. Economic struggles in Europe are weakening the euro, driving demand for the USD and further weighing on gold.
This week, the gold market is expected to remain subdued with limited major economic data releases. Key areas to watch include U.S. housing data, the University of Michigan Consumer Sentiment Index, and comments from Federal Reserve officials.
Gold is currently testing the critical resistance zone at $2,600–$2,589. A false breakout here could trigger strong selling, reinforcing bearish momentum. Conversely, a modest pullback followed by a decline to $2,546 would solidify a clearer downtrend. Keep a close watch!
✅ Gold Speculation Signals: 4 - 6 Signals.
✅ Forex Signals: 5 - 8 Signals.
✅ Trading Ideas / Setups / Techniques.
✅ NEW UPDATE: Free Signals on Telegram:
t.me/+paad547_JSVjNTll
✅ Forex Signals: 5 - 8 Signals.
✅ Trading Ideas / Setups / Techniques.
✅ NEW UPDATE: Free Signals on Telegram:
t.me/+paad547_JSVjNTll
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