“Trading involves a high risk to the invested capital. Understand all risks before investing”
CFI Palestine doesn’t deal with virtual assets or crypto currencies.
CFI Palestine is regulated by Palestine Capital Market Authority license number (PCMA/CFI/562776930)
The attached chart shows that gold prices have entered a period of sideways consolidation following the downtrend that has dominated the medium- and long-term outlook. Gold is currently trading between a resistance zone around $4,100, which it attempted to break during yesterday's session, and a support zone near $3,950.
The chart also highlights a descending trendline acting as a major resistance around $4,250 per ounce. This level is reinforced by the 150-period moving average, making it a key technical resistance area.
Markets are now awaiting today's US employment data for further clues on the future path of US monetary policy, which is expected to influence gold's short-term direction. Although gold is widely regarded as a hedge against inflation, persistently high interest rates reduce its investment appeal, as the metal does not generate any yield.
Overall, based on the technical outlook shown in the chart, the broader trend is expected to remain bearish unless prices manage to break above the descending trendline resistance near $4,250 per ounce.
Disclaimer: The content published above has been prepared by CFI for informational purposes only and should not be considered as investment advice. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell. The information provided does not have regard to the specific investment objectives, financial situation, and needs of any specific person who may receive it, and is not held out as independent investment research and may have been acted upon by persons connected with CFI. Market data is derived from independent sources believed to be reliable, however, CFI makes no guarantee of its accuracy or completeness, and accepts no responsibility for any consequence of its use by recipients.
-1724934015.webp)
-1782737533.webp)
-1782287857.webp)
