See also
27.03.2025 02:54 PMEarly in the American session, gold is trading around 3,051 and above the 7/8 Murray level, reaching an all-time high of 3,057.
Gold could attempt to surpass its high reached on March 18. If the price consolidates above the 7/8 Murray level at 3,045 in the next few hours, it could then reach the 8/8 Murray level at 3,125.
Gold is very sensitive, especially to events in the United States, such as the announcement of new tariffs on non-US-made cars. The news raised the price of gold. So, it is likely that after a break above 3,060, gold could continue its rise in the coming days.
According to the H4 chart, we observe that the double top pattern suggests that a technical correction should occur in the next few hours toward the 21 SMA located at 3,023.
After several days of forming a symmetrical triangle pattern, gold has finally broken out higher. We believe the price could face a barrier around 3,057.
If gold fails to break above 3,057, it will be seen as a signal to sell with a target at 3,023. Moreover, we could expect it to reach the 200 EMA around 2,938 in the short term.
Be careful with the 3,045 level. If the price of gold remains above this area in the coming days, the outlook could remain bullish, hence, selling should be avoided.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
