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?
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?
