8.4 Gold Morning Outlook:
The key issue in the market centers on Federal Reserve policy. Hawkish remarks from officials have lifted expectations for sustained higher interest rates. U.S. Treasury yields remain elevated, increasing the cost of holding gold and capping the upside of any rebound.
In the short term, the main resistance zone is 4065–4085. This level has repeatedly faced pressure; if the price rebounds into this area, it is likely to encounter resistance again and pull back.
The situation in the Middle East contains uncertainty, and safe-haven demand provides support at the lows. If no further escalation in conflict occurs, it will be difficult to generate a sustained bullish trend, and the market is likely to continue with a sideways consolidation pattern.
Support below is 4020 in the short term, and the 4000 level is an important defensive line.
If 4020 holds, price action will likely continue with range-bound consolidation. If there is an effective breakdown below 4020, downside room will open further.
Trading Recommendations:
Sell rallies in the 4065–4075 range. Targets: 4000–3980. Stop/defense: 4085.
#XAU
The key issue in the market centers on Federal Reserve policy. Hawkish remarks from officials have lifted expectations for sustained higher interest rates. U.S. Treasury yields remain elevated, increasing the cost of holding gold and capping the upside of any rebound.
In the short term, the main resistance zone is 4065–4085. This level has repeatedly faced pressure; if the price rebounds into this area, it is likely to encounter resistance again and pull back.
The situation in the Middle East contains uncertainty, and safe-haven demand provides support at the lows. If no further escalation in conflict occurs, it will be difficult to generate a sustained bullish trend, and the market is likely to continue with a sideways consolidation pattern.
Support below is 4020 in the short term, and the 4000 level is an important defensive line.
If 4020 holds, price action will likely continue with range-bound consolidation. If there is an effective breakdown below 4020, downside room will open further.
Trading Recommendations:
Sell rallies in the 4065–4075 range. Targets: 4000–3980. Stop/defense: 4085.
#XAU