$XAU /USD: The Gold Rush Continues 🏆
Gold is storming the 5089 level, fueled by a weakening Dollar and massive institutional interest. As we head into tomorrow's Non-Farm Payrolls (NFP), the market is bracing for a potential breakout or a quick corrective "shakeout."
🌏 Fundamental Outlook
Dollar Under Pressure: Rumors of Chinese banks diversifying away from US Treasuries are weighing on the USD.
Macro Catalysts: Weak NFP expectations and slowing Retail Sales are reinforcing the case for a Fed rate cut.
Safe Haven Demand: In an era of global shifts, Gold remains the ultimate hedge for buyers.
📉 Technical Strategy: Focus on the Levels
While the macro trend is clearly bullish, technicals suggest a potential test of support before the next big leg up.
Resistance Zone: 5089 (Immediate) | 5100 | 5250
Support Zone: 4985 | 4902 (Watch for a sharp long squeeze) | 4812
Pro Tip: A clean break and consolidation above 5089 could trigger a massive rally toward the 5250 – 5400 range. Keep your eyes on the CPI and NFP prints to confirm the momentum.
Author: Nabiha Noor
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