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Inflation is accelerating, and gold continues to decline

Technical Analysis
By Shady Fouad
Inflation is accelerating, and gold continues to decline
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GOLD

الذهب

Gold is trading around the $2555 support level, and it is likely to break lower, targeting the $2525 area in today’s trading.

Support

 2555 2525 2475
Resistance 2610 2650

2710

In recent trading sessions, gold has experienced a notable decline, breaking through key support levels as investor sentiment has shifted amid a strengthening dollar and rising bond yields. This downward trend reflects the market’s response to a combination of factors, including monetary policy adjustments and inflation expectations. Gold, traditionally viewed as a hedge against inflation, has faced selling pressure as more investors gravitate towards assets perceived to offer better returns in the current economic climate.

Despite this recent drop, gold still holds significant potential as a safe-haven asset, especially if economic uncertainty or geopolitical risks increase. Technical analysis indicates that if gold continues to trade below the support level of $2555, it may test lower levels, potentially around $2525. However, if it regains strength and moves above current resistance levels, a bullish reversal could be in sight. Overall, while recent performance has been bearish, the outlook for gold remains balanced, contingent on macroeconomic factors and global market sentiment in the upcoming period.

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Shady Fouad

Shady Fouad is a technical analyst at LDN Company
Shady's strategic vision in the currency markets is reinforced by more than fifteen years of trading experience, which enables him to blend economic and technical analyzes with high efficiency, and find the best investment ideas for traders.

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