Gold recovers - continues sideways below 2700

٢٩ نوفمبر ٢٠٢٤

XAU / USD trend forecast November 29, 2024

Gold prices hovered near $2,630 on Thursday in a subdued trading session, with US markets closed for Thanksgiving. Geopolitical developments remained a key factor influencing the price of the non-yielding metal, which has seen declines over the past three trading days. XAU/USD is currently trading at $2,637, showing little movement.

Market sentiment improved on Thursday, partly supported by a 60-day ceasefire agreement between Israel and Lebanon. However, the ongoing escalation in the Russia-Ukraine conflict is likely to keep gold prices well-supported above the $2,600 mark.

The recovery of the H1 trendline, resistance 2657-2660 will react. Continuing sideways in the price range 2600 - 2700 will stabilize the market more.

/// SELL XAU : zone 2671-2674

SL: 2679

TP: 50 - 150 - 300pips (2644)


Safe and profitable trading

٢٩ نوفمبر ٢٠٢٤

تم فتح الصفقة

Sideway gold price below 2660, bank holiday US session

١ ديسمبر ٢٠٢٤

أغلقت الصفقة: تم الوصول للهدف

Gold price trades below $2700, still following a Downtrend