Gold achieves the desired goal 5/3/2025

Gold continued its upward trend, in line with our previous outlook. The breach of 2893 acted as a catalyst, pushing prices toward the first target of 2910 and the second target of 2920, with the recent high reaching $2927 per ounce.

Technical Outlook

• Bullish Signals:
  • The Relative Strength Index (RSI) remains supportive of the upward trend.
  • Gold prices are holding above the 50-day simple moving average, which continues to provide support from below.
• Key Levels:
  • With daily trading stable above the previously breached resistance—now acting as support at 2886 (per the role exchange concept)—the bullish momentum is likely to continue.
  • A break above 2932 could facilitate a move toward an initial target of 2952.
• Bearish Scenario:
  • A return to stability below 2886 may trigger temporary negative pressure, potentially driving prices to retest 2865 and 2860 before any recovery.

Risk Warning

• Economic Data: High-impact US economic data, particularly the “non-farm private sector employment data,” is expected today, which could lead to heightened volatility.
• Market Conditions: Ongoing trade tensions and other risks continue to pose challenges, and all scenarios remain possible.

Disclaimer: Trading in CFDs involves risks, and all scenarios are possible. This analysis is not investment advice but rather an interpretation of the current technical landscape for gold.

S1: 2886.00	R1: 2932.00
S2: 2860.00	R2: 2952.00
S3: 2840.00	R3:  2978.00