XAUUSD | Market outlook
Diupdate
Gold Reserve Diversification: At the LBMA conference, central bank representatives shared that gold purchases are driven by financial and strategic goals.
US Election Impact:
Price Trends:
Medium-term trend:
US Election Impact:
- Uncertainty over the upcoming presidential elections, with Trump and Harris closely tied in polls, is prompting banks to hedge risks.
- Geopolitical Risks: Tensions in the Middle East are also boosting gold, with Israel expressing readiness to target Iran's military infrastructure.
Price Trends:
- Long-term trend: Upward, aiming to break the historical high of 2685.00. Potential targets: 2750.00 and 2810.00 if consolidation succeeds.
- Support and Correction: If the price drops to 2602.00, long positions toward 2685.00 are favourable. A breakout below 2602.00 could trigger a correction targeting 2546.00 and 2471.00.
Medium-term trend:
- Correction: Last week’s correction did not reach key support at 2575.61–2564.61. If a reversal occurs, the price could rise to 2685.61 and potentially 2712.70–2701.70.
- Correction Scenario: If another correction develops, the price may revisit 2575.61–2564.61, followed by growth toward 2625.00 and 2685.00.
Trading ditutup: target tercapai
Gold have reached our target, trade closed. 
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