Gold Pauses Amid Pressure, but the Future Remains Bright
The record-breaking rally in gold has come to a halt as the USD strengthens and U.S. Treasury yields reach their highest level in three months. Meanwhile, investors are awaiting key U.S. economic data to gauge the Fed’s next move, which is also pressuring gold prices. However, Alisa predicts that if the market expects continued rate cuts, investment demand for gold will rise further, pushing prices up.
The technical chart shows two strong support levels at 2,732 and 2,747, which could serve as a robust base for gold to gradually return to an uptrend. Although gold is currently experiencing a slight decline, this is likely temporary as investors await new signals.
The forecast suggests that if gold can regain upward momentum, it could reach $2,900 per ounce within the next 12 months.
The technical chart shows two strong support levels at 2,732 and 2,747, which could serve as a robust base for gold to gradually return to an uptrend. Although gold is currently experiencing a slight decline, this is likely temporary as investors await new signals.
The forecast suggests that if gold can regain upward momentum, it could reach $2,900 per ounce within the next 12 months.
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