TVC:GOLD (XAU/USD) continues to consolidate near its all-time high, with price currently trading around $3,863 after retreating slightly from the peak. The chart shows a clear bullish channel, with immediate Support Zone at $3,840–$3,847 and a Resistance Zone at $3,900–$3,905. Any corrective dips into the support area are likely to attract fresh buying, keeping the upside bias intact.
🎯 Trade Setup
Entry: $3,847 (near support retest)
Stop Loss: $3,836 (below channel and support zone)
Take Profit: $3,905
R:R Ratio: ~1 : 5.13
🏦 Macro Background
Gold’s bullish momentum is underpinned by three key themes:
US Government Shutdown Risk – A Republican spending bill failed in the Senate, increasing the likelihood of a partial shutdown, which supports safe-haven demand.
Dovish Fed Expectations – Markets are pricing in a 95% chance of a rate cut in October and a 75% chance of another in December, keeping USD under pressure.
Geopolitical Risks – Rising tensions over US missile supplies to Ukraine and Middle East instability continue to drive safe-haven flows into bullion.
Together, these fundamentals reinforce gold’s upside bias, making dips attractive for buyers.
🔑 Key Technical Levels
Resistance Zone: $3,900 – $3,905
Support Zone: $3,840 – $3,847
📌 Trade Summary
Gold remains in a bullish consolidation phase near record highs, with the path of least resistance to the upside. A retest of the $3,840–$3,847 support zone may provide a solid long opportunity targeting $3,900+. Fundamentals continue to support safe-haven demand and weaken USD, keeping gold well-bid.
⚠️ Disclaimer
This analysis is for reference only and does not constitute trading advice. Trading involves significant risk, and proper risk management is essential.
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