Gold (Xau/USD) Daily Chart
Precious metals are trading up today to hit a high, and are currently seen at $2,953. Now we are ready to earn another week of profit, and we'll have eight in trots to start the new year. The dollar is also slightly weaker, so the latest profits are coming, but it is difficult to find a lawsuit against gold amid geopolitical tensions and central bank purchases.
Next target? Of course, the $3,000 mark. It is a major thing in terms of the psychological barriers of precious metals.
After touching on one of the big ones before $2,000 during the Covid pandemic, Gold had a hard time really breaking Shackle until last year. This is a long period of time that has bounced back in the last few years before setting the fire at the end.
Is it different this time?
I feel that might be the case. As I've had since last year, the only argument I have about money is purely technical arguments.
The ascent to where we are now is breathtaking and truly one-sided from a momentum standpoint. It claims to be some sort of amendment, but up until now it has nothing.
Plus, the same conditions are all lined up for money, with major central banks still easing their policies (more slowly), Trump is still doing his thing on a global stage – no It creates certainty and geopolitical tensions. After that, you still have major central banks, especially China – still stocking up gold reserves. And that's also a big plus point.
I will not rule out a profitable match that costs me to hit $3,000. But if you shoot easily past that, you might see a gold touch or $3,100 or $3,200 before the next real pullback.
