Greetings, dear traders! 📢✨ We’re here with a technical analysis of one of the world’s most secure assets—Gold (XAUUSD). 🏆 Do you trade Gold? If yes, let’s dive straight into the analysis without wasting any time! 🚀📉📈

🥇 XAUUSD – Gold’s Bullish Rally Continues! Will It Reach 3047? 🌟

Gold (XAUUSD) remains in a strong bullish trend, continuously breaking new highs. The price has now reached the 161.8 Fibonacci extension, a key resistance level. However, traders are watching for a potential small correction before the next leg up towards the 261.8 Fibonacci level at 3047.

🌍 Market Sentiment & Global Factors Driving Gold

Gold’s impressive rally is fueled by:
Inflation concerns – Investors are hedging against inflation risks.
Fed interest rate expectations – Markets are pricing in potential rate cuts later this year.
Geopolitical risks – Increased global uncertainty supports gold as a safe-haven asset.
US Dollar & Bond Yields – A weakening USD and stable bond yields add more strength to gold’s uptrend.

Traders should closely monitor key economic events, including the upcoming FOMC meeting, inflation data (CPI), and employment reports, which could impact gold’s trajectory.

📈 Technical Analysis – Key Levels to Watch

🟢 Bullish Scenario:

If gold consolidates above 3021, buyers could push the price towards 3047, aligned with the 261.8 Fibonacci extension.

✅ Entry: Buy above 3021
🎯 Target: 3047
🚀 Potential Continuation: 3060+

🔴 Bearish Scenario:

If gold fails to hold above 3021, a temporary pullback towards the trendline support near 3005 is possible before resuming the uptrend.

🚨 Entry: Wait for a confirmed pullback
📉 Support Zone: 3005 – 2980
📌 Stop Loss: Below 3005

💬 Are You Bullish on Gold?

Will XAUUSD continue its surge, or will a correction come first? Let us know your thoughts! 🚀🔥