Hello everyone, let’s go through a few interesting developments in the gold market this week with Domic.
Gold is currently trading around 4,339 USD/oz after rebounding nearly 40 USD from the overnight low at 4,301. This is not a random bounce, but a familiar reaction when safe-haven flows return amid rising geopolitical risks.
The current focus comes from tougher moves by the US toward Venezuela and the risk of expanded sanctions on Russia’s energy sector. Supply disruption concerns have pushed oil prices up nearly 2%, triggering a broader defensive sentiment across financial markets. In this environment, gold continues to be favored as a safe-haven asset.
From a technical perspective on the H4 timeframe, XAUUSD’s uptrend remains firmly intact. Price continues to hold above both EMA34 and EMA89, with both moving averages clearly sloping upward. The pullback from the 4,350 area down toward 4,300 was clean and contained, without breaking the overall structure. This suggests a healthy pause to absorb profit-taking pressure rather than any signal of trend reversal.
Wishing you all a smooth and successful trading day!
Gold is currently trading around 4,339 USD/oz after rebounding nearly 40 USD from the overnight low at 4,301. This is not a random bounce, but a familiar reaction when safe-haven flows return amid rising geopolitical risks.
The current focus comes from tougher moves by the US toward Venezuela and the risk of expanded sanctions on Russia’s energy sector. Supply disruption concerns have pushed oil prices up nearly 2%, triggering a broader defensive sentiment across financial markets. In this environment, gold continues to be favored as a safe-haven asset.
From a technical perspective on the H4 timeframe, XAUUSD’s uptrend remains firmly intact. Price continues to hold above both EMA34 and EMA89, with both moving averages clearly sloping upward. The pullback from the 4,350 area down toward 4,300 was clean and contained, without breaking the overall structure. This suggests a healthy pause to absorb profit-taking pressure rather than any signal of trend reversal.
Wishing you all a smooth and successful trading day!
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Join my group to stay updated with the market in a clear, simple, and practical way
👉🏻 t.me/+laboc_IsvmUwNzU1
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.