Hello everyone! What are your thoughts on gold prices today?
Gold continues its strong uptrend, currently trading around $2,940 after hitting a historic high last week. This marks the longest rally since 2020, fueled by strong safe-haven demand.
Key Factors Driving Gold’s Surge:
Weak U.S. economic data, increasing recession fears.
Rising expectations of Fed rate cuts, with the earliest possibility in July, making gold more attractive.
Increased gold purchases by central banks, combined with growing geopolitical risks.
Currently, the H1 chart maintains a bullish trend, increasing the likelihood that gold will reach new all-time highs this week.
⭐ Trading Plan:
BUY: $2,909 – $2,907
BUY: $2,892 – $2,890
Wishing you all a successful and profitable trading day!