Gold price rises, will it reach $3000?

[AMZFx]

Gold’s rally to $2,706 highlights the strong bullish sentiment driven by geopolitical risks and expectations of Fed rate cuts. The consistent inflow into gold ETFs and aggressive central bank purchases are reinforcing this momentum. If the Fed signals further easing, the path toward $3,000 seems more realistic, especially with inflation concerns still lingering.

However, as you pointed out, profit-taking could trigger temporary pullbacks, making it crucial for traders to manage risk carefully. The key question now is whether gold consolidates before its next leg up or if it continues its parabolic rise. Watching central bank actions and macroeconomic data in the coming months will be essential.

Do you see any significant resistance levels that might slow down this surge before it reaches $2,900?

 

[Zerologic]

Gold prices seem to be correcting below 2900; referring to the channel, prices tend to rise, but volatility is somewhat decreased. Sometimes, Trump's statements can suddenly change the market.

 

[Zerologic]

Yesterday, gold prices fell again to a low of 2880 after consolidating in the market range. Today, investors are waiting for the US JOLTS Job Openings data, which may affect the short-term market, which is expected to increase by 7.65m from the previous revision of 7.60m.

 

[Zerologic]

Yesterday, gold prices rose again, extending the previous day's increase, reaching a high of 2940, and today, it has reached 2941. The US inflation data released yesterday seems to bring bets that the Fed may cut interest rates at the May meeting. Low interest rates support gold as a non-yielding asset.