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GOLD Bullish Outlook
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GOLD Bullish Outlook
Yesterday, GOLD broke above the triangle pattern after a period of accumulation, pushing the price up by about +1%, from 3655 to 3689.30.
This move was also a new milestone, as the price tested the 3690 zone and reached a fresh all-time high.
The bullish momentum remains strong, though still influenced by market manipulation as usual.
The FOMC rate cut is something to keep in mind, but since it’s an old theme, it may not be the main driver behind gold’s recent levels.
For now, if GOLD continues to respect the bullish pattern, the next upside targets are 3712 and 3750 based on the current data.
