Yesterday, gold opened strongly in the morning, hitting a new all-time high, with the price reaching around 4531, breaking the previous day's high of 4525. Recently, continuous upward momentum has led the bulls to dominate the market, and short-term pullbacks are more likely to be technical corrections within the trend rather than reversal signals.
Currently, market bullish sentiment is high, with no clear resistance levels above. However, the high point reached this morning will serve as a critical test for the US session's movement. It is possible that the price may face resistance and pull back at this level to complete a phase correction. The support level to watch below is around 4505, the morning starting point.
The overall upward trend remains intact, but chasing the market requires caution. Patience in waiting for a pullback before entering is a safer trading strategy.
Trading suggestion: Consider buying on dips around 4480–4485, with a stop loss at 4465, and target 4580.
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Gold Price Forecast for Next Week
Yesterday, gold opened strongly in the morning, hitting a new all-time high, with the price reaching around 4531, breaking the previous day's high of 4525. Recently, continuous upward momentum has led the bulls to dominate the market, and short-term pullbacks are more likely to be technical corrections within the trend rather than reversal signals.
Currently, market bullish sentiment is high, with no clear resistance levels above. However, the high point reached this morning will serve as a critical test for the US session's movement. It is possible that the price may face resistance and pull back at this level to complete a phase correction. The support level to watch below is around 4505, the morning starting point.
The overall upward trend remains intact, but chasing the market requires caution. Patience in waiting for a pullback before entering is a safer trading strategy.
Trading suggestion: Consider buying on dips around 4480–4485, with a stop loss at 4465, and target 4580.