Forex· 3 min read
Gold tests record highs as the dollar weakens
XAUUSD gains for a third consecutive session. Analysts see targets in the $2,450–2,480 range if the price holds above $2,420.
Gold refreshed its weekly high and trades around $2,417 per ounce. The metal is supported by expectations of a Fed rate cut and continued purchases by Asian central banks.
Technically, the price holds above the 20-day moving average, and the RSI has not yet reached overbought territory. Nearest resistance sits at $2,431, followed by the all-time high.
The main risk for bulls remains strong US macro data: unexpectedly high employment or inflation numbers could trigger a correction toward support at $2,380.
Source: Apex Capital Research Desk