Gold markets weekly technical analysis
The gold market moved higher during the week as we essentially start the Friday session at an all-time high. That said, if we can break above the $2,800 level, which I think is the next target, the market will simply continue its overall long-term upward trend. There are a lot of concerns about tariffs around the world, so that’s obviously an important factor for people looking for security. But at the same time, we also have to think about the geopolitics of the world, which is still a very messy proposition.
Short-term pullbacks will certainly see many buyers enter the markets and take advantage, with the $2,700 level likely to be a key support level. If we can get above 2,800, I think we will work our way to the $3,000 level by the time it’s all said and done.