Gold Bullish Trend Continues with Targeted Buying Strategy....

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Hello traders..

Gold Forecast: Bullish Momentum Expected with Key Levels to Watch"

Today's market analysis suggests a bullish direction for gold, as the opening price is above both the pivot and the Point of Control (POC). This indicates a positive sentiment in the market. While the pivot is narrower compared to yesterday, the two-day relationship remains higher, signaling potential strength in the upward movement. However, traders should remain cautious as there's a possibility of gold retracing to around 2290 to retest the virgin POC before resuming its bullish trend.

Anticipating a beautiful increase in gold's price today, with potential targets at 2367, 2390, and 2400 throughout the week, buying opportunities arise. Consider buying at entry points of 2332, 2325, and 2310, with targets set at 2343, 2347, as well as the higher thresholds of 2367 and 2390. This strategy aligns with the expected bullish momentum in the gold market.

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🟡Gold records significant increases despite the rise of the dollar.. What is the reason?

Gold metal prices achieved clear increases during Thursday's trading, despite the rise in the US dollar and the growing uncertainty about the path of US inflation falling to the target level.

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Despite the US dollar's ascent and lingering uncertainty over US inflation, gold prices have surged for several reasons. Firstly, gold's status as a safe haven asset draws investors seeking stability amid economic turbulence. Secondly, persistent concerns regarding inflation, regardless of its trajectory, prompt investors to hedge their portfolios with gold. Thirdly, low interest rates reduce the opportunity cost of holding non-interest-bearing assets like gold, making it more attractive. Fourthly, technical factors and market sentiment contribute to short-term price fluctuations, further driving up gold prices. Lastly, global economic uncertainty, including geopolitical tensions and trade disputes, bolster gold's appeal as a reliable store of value. In essence, while conventional wisdom might suggest a strong dollar would suppress gold prices, the metal's intrinsic qualities and broader market dynamics often counteract such effects, leading to significant price increases despite prevailing circumstances.

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$2367 target done successfully now don't forget $2390 target guys..

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According to the MW wave system/strategy, our target for XAUUSD is fib -1.382, which suggests a potential rise to around $2400. However, it's essential to stay cautious due to the high volatility in the market. Keeping a close eye on fluctuations and adhering to risk management strategies is crucial for navigating this environment safely. Let's proceed with vigilance and ensure prudent decision-making to safeguard our investments.

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Gold prices reach their highest levels and exceed $2,395

Gold prices are witnessing strong increases during the last global trading week, today, Friday, and gold reached its highest levels ever, as gold prices rose during the past four weeks by 10.8% and by 17.64% during the past 12 months, supported by the decline in US bond yields despite the... The dollar index rose, but the worsening geopolitical tensions in the Middle East between Israel and Iran boosted demand for gold as it is a safe haven.

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