GOLD NEXT MOVE POSSIBLE (READ)

Gold Bulls Rejoice: Price Correction Presents Buying Opportunity

After a near 3% pullback this week, Gold's price (XAU/USD) is poised to rebound, driven by robust fundamentals and a weakening US dollar. The precious metal's correction presents a buying opportunity for investors seeking to capitalize on the ongoing tariff tensions and growing demand for safe-haven assets.

Key Levels to Watch:

- Support: $2,790 (strong demand zone), $2,835 (moderate support), and $2,856 (minor support)
- Resistance: $2,888 (daily Pivot Point), $2,909 (daily R1), and $2,941 (daily R2)

Market Sentiment:

The daily digest market movers indicate a risk-on mood, with investors seeking safe-haven assets like Gold. The CME Fedwatch Tool shows increasing odds of a June rate cut, which could further boost Gold prices.

Growing Demand:

Gold ETFs are seeing significant inflows, with onshore fund holdings increasing by 17.7 tons in the first three weeks of February. This growing demand, combined with ongoing geopolitical tensions, sets the stage for a potential breakout above $3,000.

What's Next?

Our experts predict a strong rebound in Gold prices, driven by the confluence of technical and fundamental factors. Stay tuned for our weekly XAU/USD forecasts, where we provide insights into the next possible moves of the gold-dollar pair.

Best regards Travis ❤️