Resistance: Gold needs to close above $2,746 to resume an uptrend. This aligns with the 23.6% Fibonacci level.
Support: A break below $2,730 may lead to $2,718 (38.2% Fibo & 21-day SMA) and potentially $2,695 (50% Fibo).
Trump's policies are expected to strengthen the USD and Treasury yields, initially pressuring Gold. However, longer-term uncertainty could support Gold if geopolitical risks increase. Election volatility and the Fed's rate decision tomorrow will be key drivers for Gold's next move.
Just Personal opinion. Trade safe.
Support: A break below $2,730 may lead to $2,718 (38.2% Fibo & 21-day SMA) and potentially $2,695 (50% Fibo).
Trump's policies are expected to strengthen the USD and Treasury yields, initially pressuring Gold. However, longer-term uncertainty could support Gold if geopolitical risks increase. Election volatility and the Fed's rate decision tomorrow will be key drivers for Gold's next move.
Just Personal opinion. Trade safe.
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