After investors took profits, gold prices slow down around peak

Gold prices are attempting a slight recovery during the Asian session after finding fresh demand near $2,355 once again. Gold prices took advantage of the softer risk tone and sustained weakness in US Treasury yields, despite recent hawkish comments from the Fed.

XAUUSD trades above 2370 and the daily chart suggests the slide could continue. Technical indicators retreated from overbought levels, suggesting the decline could continue. However, the possibility of a slide higher is yet to come, as gold refuses to give up while developing moving averages.

World gold prices went down as the market gradually reduced expectations that the US would cut interest rates. On the other hand, the need for safe haven capital in precious metals is also gradually decreasing as the Iran-Israel conflict has calmed down. Geopolitical instability continues to support gold and any escalation would push prices towards $2,500 an ounce. This precious metal will only decline if central banks stop buying or investors return to risky assets. The rally that pushed gold past $2,400 an ounce last week could be the precious metal's biggest rally this year as the market adjusts to expectations that the US Federal Reserve will maintain maintain positive monetary policy longer than expected. On the contrary, world gold prices are forecast to increase sharply at any time if the Middle East becomes more unstable.

Buy 2327-2325
Buy 2305-2307
Sell 2400-2402
SELL 2428-2430

Resistance: 2385 -2395- 2405 - 2421 - 2428
Support: 2365 - 2345 - 2328 - 2303

Trade active

Trade closed: target reached:

Gold has returned to the trend and is trading above the 2400 level as analyzed. Gold's current destination is around 2428

Trade active:

Gold: Middle East war fears spark fresh XAU/USD rally, will it sustain?
Gold price is trading close to $2,400 early Friday, reversing from a fresh five-day high reached at $2,418 earlier in the Asian session. Despite the pullback, Gold price remains on track to book the fifth weekly gain in a row.

Trade closed: target reached:

The strategy has brought excellent profits

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update new strategy

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Trade closed: target reached:

Hit TP 2295 for SELL signals

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After breaking 2364, gold fell into a downtrend

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The strategy hits FULL TP and is trading within the price range that I analyzed

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Update my latest strategies