#GOLD - Consolidation. The trend may continue
Gold is correcting from its 15-week highs on Tuesday amid a stronger dollar heightened geopolitical tensions. The local bullish remains intact.
The Dollar Index is forming a counter-trend correction, which is putting some short-term pressure on gold. The correction appears temporary, supported by easing rate expectations and technical support. The market is waiting for new signals
Drivers:
Downside: conflict escalation, higher oil prices and a stronger dollar, hawkish Fed signals.
Upside: weaker dollar, easing geopolitical risks, lower yields, dip-buying
Resistance levels: 4,680, 4,700, 4,720
Support levels: 4,630, 4,600
The local trend remains bullish. Gold is undergoing a corrective phase to build momentum ahead of a potential continuation higher.
Areas of interest: 4,720–4,775
Consolidation above 4,630 could become a technical catalyst for further upside toward the stated targets$XAU
Gold is correcting from its 15-week highs on Tuesday amid a stronger dollar heightened geopolitical tensions. The local bullish remains intact.
The Dollar Index is forming a counter-trend correction, which is putting some short-term pressure on gold. The correction appears temporary, supported by easing rate expectations and technical support. The market is waiting for new signals
Drivers:
Downside: conflict escalation, higher oil prices and a stronger dollar, hawkish Fed signals.
Upside: weaker dollar, easing geopolitical risks, lower yields, dip-buying
Resistance levels: 4,680, 4,700, 4,720
Support levels: 4,630, 4,600
The local trend remains bullish. Gold is undergoing a corrective phase to build momentum ahead of a potential continuation higher.
Areas of interest: 4,720–4,775
Consolidation above 4,630 could become a technical catalyst for further upside toward the stated targets$XAU
