Comprehensive Gold Analysis from Various Perspectives 🌟

Political Perspective 🌍
Given the current unrest and ongoing conflicts, along with potential future wars, our outlook on gold remains bullish 📈. Geopolitical tensions often drive investors to seek safe-haven assets like gold, increasing its demand and price.

Macroeconomic Perspective 📊
As major economies approach the end of their contraction cycles, interest rates are expected to decrease soon. This scenario typically bodes well for gold, suggesting a bullish outlook 📈. Lower interest rates often lead to a weaker dollar, making gold more attractive to investors.

Technical Perspective 📈
Analyzing gold technically, we observe an upward trend across monthly, weekly, and daily time frames. Currently, gold is at the upper limit of its channel and has reached a historic high of $2450. It's now in a correction phase.

Corrections after significant uptrends are natural and do not indicate a change in the overall bullish trend. Instead, they are necessary for the chart's healthy progression.

On the daily and 4-hour time frames, gold is trading within a range with a ceiling at $2450 and a floor at $2280. The floor of this trading range is a strong support level and is unlikely to be breached easily. This makes it a good point for gold to potentially resume its upward movement.

If the floor breaks, the next target could be around $2150. Conversely, if the ceiling breaks, the next target could be around $2600. However, this is just the initial target, and gold could see much higher levels in the long term.

Elliott Wave Perspective 📉
From an Elliott Wave perspective, gold might undergo a three-wave correction before continuing its upward movement.

📌 Key Levels to Watch
Resistance Levels: $2450, $2600
Support Levels: $2280, $2150

🟢What do you think about the current gold trend? Share your thoughts in the comments! Don't forget to like and follow for more updates. 🚀

#GoldAnalysis #XAUUSD #TradingView #Tradecitypro #TCP #Gold #Forex #ElliottWave #TechnicalAnalysis #MarketUpdate