Gold has shown remarkable growth over the past year, reaching new highs. Investors and traders closely watch its movement as it approaches the significant $3,000 mark. Despite reaching this key level, there are no signs of a correction, and the potential trend remains strong. The ongoing global trade crisis is fueling this rally. Ascending Wedge Signals Key Breakout Levels at $3,000 The weekly chart below highlights an ascending wedge pattern in gold prices. This pattern typically signals potential weakness as the price moves upward while losing momentum. However, this price action indicates strong bullish momentum based on broader market developments and the monthly price outlook ...

The US Dollar has been in a long-term decline against gold. The removal of the gold standard triggered a sharp drop, leading to continued devaluation. Over time, the dollar formed consolidation patterns before breaking lower again. Recent price action confirms the ongoing weakness of the dollar. Meanwhile, gold remains strong, moving in an upward trend. Economic uncertainties and inflation concerns drive demand for gold as a safe-haven asset. Investors watch these trends as gold continues to hold its value against fiat currencies. The Long-Term Decline of the US Dollar Against Gold The historical chart of the US Dollar versus Gold reveals a long-term downtrend in ...

Gold price exhibits strong volatility near record levels. This volatility is driven by economic data, trade uncertainty, and Federal Reserve policies following the Trump presidency. On Wednesday, gold prices dipped slightly as improved risk appetite shifted investors’ focus to equities. However, economic uncertainties in the US, stemming from Trump-era trade policies, have supported gold prices. Due on Wednesday, the Federal Open Market Committee (FOMC) policy decision has kept the market waiting for clarity on the direction of interest rates. Fundamental Drivers of Gold Prices Several macroeconomic factors are influencing gold prices. Improved stock market performance has diverted capital away from safe-haven assets like gold. However, ...