GOLD → First declines, then continues to conquer $2,900

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XAUUSD is currently moving slowly on a bullish trend platform, with the price fluctuating around $2,868 and rising by approximately 0.45% on the day.

Inflation remains on an upward trajectory, and gold is responding as a safe-haven asset. "Gold is on track to reach $2,900 per ounce, and market sentiment remains highly optimistic, despite the short-term strength of the U.S. dollar."
Furthermore, recent statements from Federal Reserve officials indicate that major policy uncertainties—including tariffs and other issues stemming from the early days of former President Donald Trump's administration—are among the biggest challenges in determining monetary policy direction in the coming months.
Currently, the market's focus is on the upcoming Non-Farm Payrolls (NFP) report, set to be released on Friday, which will provide further insights into the overall strength of the economy and the Fed’s policy path. Theoretically, a disappointing jobs report could strengthen the case for interest rate cuts in the U.S., thereby boosting gold prices. However, the opposite scenario is also possible.

From a technical standpoint, gold prices may decline from the $2,870 resistance level to accumulate liquidity and prepare for further upward movement. Specifically, the price could react to lower trend boundaries and the previously broken resistance of the ascending channel. There are no fundamental or technical reasons to break the current trend, and growth may resume after a potential false breakout.

Regards Bentradegold!

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