Gold’s gains continue amid strong sentiment
After an initial reaction downward, gold pushed back up in the aftermath of the job report to retest 5 February’s all-time high. Demand for gold has been consistently high in 2025 so far and the new trade wars between the USA and various other countries have participants somewhat nervous, boosting demand for havens.
The current situation close to the all-time high amid overbought and strongly positive sentiment makes it more challenging than usual to estimate the next strong resistance, but $2,900 and $3,000 would both seem to be obvious candidates. Entering lower after a pullback would derisk the trade somewhat for potential new buyers but that comes with the other risk that the price might not consolidate soon and instead continue upward.
The main dynamic support in view for now is the 20 SMA around $2,780. A deep retracement below there seems very unlikely for now but it’d be possible to see more volatility if American inflation on 12 February is surprising.
This is my personal opinion, not the opinion of Exness. This is not a recommendation to trade.
The current situation close to the all-time high amid overbought and strongly positive sentiment makes it more challenging than usual to estimate the next strong resistance, but $2,900 and $3,000 would both seem to be obvious candidates. Entering lower after a pullback would derisk the trade somewhat for potential new buyers but that comes with the other risk that the price might not consolidate soon and instead continue upward.
The main dynamic support in view for now is the 20 SMA around $2,780. A deep retracement below there seems very unlikely for now but it’d be possible to see more volatility if American inflation on 12 February is surprising.
This is my personal opinion, not the opinion of Exness. This is not a recommendation to trade.
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.