Gold trading session on Thursday saw a positive rebound after the market recorded a slight weakening of the US Dollar.
The main reason came from investors’ concerns about a potential prolonged US Government shutdown and legal disputes related to global tariffs imposed by Donald Trump.
As a result, the market witnessed a return of safe-haven flows back into Gold.
Gold is now waiting for a major push next week from the upcoming CPI data to resume its strong upward trend and end the year positively around the $4,300/ounce level.
Technical Analysis:
According to the H4 timeframe, Gold price is at a crucial point of BREAKOUT from the short-term downtrend line to form a new upward trend.
If Gold breaks through the $4,000/ounce zone, it is likely to return to a long-term bullish trend in the coming period.
Trí Hùng
Leave a Reply