GOLD (XAU/USD) Technical Analysis

Despite recent declines, gold's long-term outlook remains bullish. Several factors support a potential price increase:

- Inflationary pressures: Gold is a proven hedge against inflation.
- Geopolitical uncertainty: Gold is a safe-haven asset during economic and political turmoil.
- Central bank demand: Increasing gold reserves by central banks supports demand.
- Potential for lower interest rates: Lower rates make gold more attractive.

However, potential headwinds include:

- Strong US dollar: Makes gold more expensive for foreign buyers.
- Rising real interest rates: Increases opportunity cost of holding gold.

Key resistance levels will be closely watched for potential breakouts. A bullish reversal could be on the horizon.

Target: $2,670
Stop Loss: $2,600

Wishing you a joyous holiday season and a prosperous New Year!

Best Wishes Tom 😎