Technically, gold consolidates after reaching a record high of $ 3,057.59 last week. A break above that level would resume the upward trend with open potential with open only only. The main short-term support is $ 2,968.92, while the 50-day progressive average at $ 2,874.97 remains the critical level for bulls in the longer term.
Gold market forecast: Bullish bias applies to important support
With the support of a weakening dollar, the central bank that has the unrest and tariff uncertainty, the question of the Golden is expected to be strong. Unless inflation data surprises the upward or rate fears, dips are probably shallow. As long as gold applies more than $ 2,968.92, the wider bullish structure remains intact, making $ 3,100 and possibly $ 3,150 focus in the short term.
More information in our economic calendar.