Gold consolidated towards the growth side once again

٥ نوفمبر

Gold consolidated towards the growth side once again, though the market currently shows no clear directional momentum. Despite this, price action is forming a strong upside trade pattern, indicating potential for bullish continuation.

Gold prices rose on Wednesday as bargain hunters stepped in after bullion dropped to a near one-week low in the previous session. Market participants are now focused on upcoming U.S. private payroll data, seeking cues on future interest rate moves by the Federal Reserve.

Technical Outlook

From a technical perspective, traders need to monitor the gold market carefully If bulls maintain control, prices could extend their growth phase a temporary pullback to test support levels is possible, but as long as price holds above key supports, the overall trend remains bullish the upside targets for the current move are projected around 3995 to 4022.

You may find more details in the chart.
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