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Gold's Explosive Surge
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Hello everyone, let’s dive into how XAUUSD is moving!Yesterday, just as we expected, gold made an impressive surge. The precious metal rocketed upwards from the 3321 USD range, hitting 3378 USD, gaining more than 500 pips in a short time.
So, what’s behind this move? The answer lies in the speech by Fed Chair Jerome Powell.
His remarks at the Jackson Hole symposium sent shockwaves through the market. Powell emphasized that the Fed might pause or even reduce interest rates soon due to concerns about the negative impact on the economy.
This has weakened the USD, providing an opportunity for gold (XAUUSD) to rise sharply. As the USD loses value, gold becomes a safe-haven for investors, pushing prices higher.
From a technical perspective, gold has overcome its previous downtrend, successfully conquering the 3370 USD peak. A trend correction could occur, but given the favorable environment, the upward trend still holds dominance. Watch for the 3400 USD level, as that’s our next target.
Do you agree with my analysis? Drop your thoughts in the comments and don’t forget to like the post—I’d really appreciate it!
Good luck!
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Great breakdown! Totally agree that Powell’s dovish tone was the main catalyst behind gold’s explosive move. The USD index showed immediate weakness after his remarks, and that opened the door for XAUUSD bulls to step in aggressively. What’s interesting here is that the 3370 breakout wasn’t just a random spike—it coincided with a key Fibonacci retracement level from the last swing high, which makes the move technically cleaner. If we see a strong candle close above 3380 on the daily chart, then 3400–3420 becomes the logical magnet. Beyond that, 3450–3460 could be tested if the Fed doubles down on easing signals. For now, dips toward 3340–3350 look like healthy retests rather than signs of weakness.
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I like your analysis, but I’d add one caution: gold tends to overreact in the short term after Fed speeches. We saw this back in March when Powell’s comments triggered a rally only for price to retrace 60% within two sessions. If 3400 rejects hard, we could see a corrective pullback toward 3320–3300, especially if the bond market stabilizes. That said, the macro backdrop is definitely bullish for gold—rate cuts mean lower yields, and lower yields almost always equal higher gold. Medium-term, I’m eyeing 3500 as a realistic target if the Fed shifts into a full easing cycle by Q4. In short: momentum is with the bulls, but don’t rule out a sharp shakeout first.
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Hello everyone, let’s dive into how XAUUSD is moving!Yesterday, just as we expected, gold made an impressive surge. The precious metal rocketed upwards from the 3321 USD range, hitting 3378 USD, gaining more than 500 pips in a short time.
So, what’s behind this move? The answer lies in the speech by Fed Chair Jerome Powell.
His remarks at the Jackson Hole symposium sent shockwaves through the market. Powell emphasized that the Fed might pause or even reduce interest rates soon due to concerns about the negative impact on the economy.
This has weakened the USD, providing an opportunity for gold (XAUUSD) to rise sharply. As the USD loses value, gold becomes a safe-haven for investors, pushing prices higher.
From a technical perspective, gold has overcome its previous downtrend, successfully conquering the 3370 USD peak. A trend correction could occur, but given the favorable environment, the upward trend still holds dominance. Watch for the 3400 USD level, as that’s our next target.
Do you agree with my analysis? Drop your thoughts in the comments and don’t forget to like the post—I’d really appreciate it!
Good luck!
@etfs
Your analysis makes a lot of sense, especially how you tied Powell’s remarks with the sudden USD weakness. I agree the environment still favors gold’s upside. Watching how price reacts around 3400 will be key, since a clean break could fuel the next leg higher. -
Hello everyone, let’s dive into how XAUUSD is moving!Yesterday, just as we expected, gold made an impressive surge. The precious metal rocketed upwards from the 3321 USD range, hitting 3378 USD, gaining more than 500 pips in a short time.
So, what’s behind this move? The answer lies in the speech by Fed Chair Jerome Powell.
His remarks at the Jackson Hole symposium sent shockwaves through the market. Powell emphasized that the Fed might pause or even reduce interest rates soon due to concerns about the negative impact on the economy.
This has weakened the USD, providing an opportunity for gold (XAUUSD) to rise sharply. As the USD loses value, gold becomes a safe-haven for investors, pushing prices higher.
From a technical perspective, gold has overcome its previous downtrend, successfully conquering the 3370 USD peak. A trend correction could occur, but given the favorable environment, the upward trend still holds dominance. Watch for the 3400 USD level, as that’s our next target.
Do you agree with my analysis? Drop your thoughts in the comments and don’t forget to like the post—I’d really appreciate it!
Good luck!
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Hello everyone, let’s dive into how XAUUSD is moving!Yesterday, just as we expected, gold made an impressive surge. The precious metal rocketed upwards from the 3321 USD range, hitting 3378 USD, gaining more than 500 pips in a short time.
So, what’s behind this move? The answer lies in the speech by Fed Chair Jerome Powell.
His remarks at the Jackson Hole symposium sent shockwaves through the market. Powell emphasized that the Fed might pause or even reduce interest rates soon due to concerns about the negative impact on the economy.
This has weakened the USD, providing an opportunity for gold (XAUUSD) to rise sharply. As the USD loses value, gold becomes a safe-haven for investors, pushing prices higher.
From a technical perspective, gold has overcome its previous downtrend, successfully conquering the 3370 USD peak. A trend correction could occur, but given the favorable environment, the upward trend still holds dominance. Watch for the 3400 USD level, as that’s our next target.
Do you agree with my analysis? Drop your thoughts in the comments and don’t forget to like the post—I’d really appreciate it!
Good luck!
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Hello everyone, let’s dive into how XAUUSD is moving!Yesterday, just as we expected, gold made an impressive surge. The precious metal rocketed upwards from the 3321 USD range, hitting 3378 USD, gaining more than 500 pips in a short time.
So, what’s behind this move? The answer lies in the speech by Fed Chair Jerome Powell.
His remarks at the Jackson Hole symposium sent shockwaves through the market. Powell emphasized that the Fed might pause or even reduce interest rates soon due to concerns about the negative impact on the economy.
This has weakened the USD, providing an opportunity for gold (XAUUSD) to rise sharply. As the USD loses value, gold becomes a safe-haven for investors, pushing prices higher.
From a technical perspective, gold has overcome its previous downtrend, successfully conquering the 3370 USD peak. A trend correction could occur, but given the favorable environment, the upward trend still holds dominance. Watch for the 3400 USD level, as that’s our next target.
Do you agree with my analysis? Drop your thoughts in the comments and don’t forget to like the post—I’d really appreciate it!
Good luck!
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