Forecast of gold movement today

Gold at the basic level

Gold futures continued their losses from the previous session as traders continued to take profits, after Iran indicated its desire to calm hostilities with Israel.

Gold prices fell today to reach levels of 3,375 dollars per ounce.

Gold also briefly rose at the beginning of the day's trading thanks to safe haven purchases, as the conflict apparently escalated.

There were reports of new attacks, and President Trump left the group of Seven summit early, warning that Tehran should be evacuated, and any further escalation could lead to a renewed appetite for safe haven.

At the technical level

Gold retreated today near the retest of the broken downtrend levels down to the levels of 3.375 dollars, as we mentioned since the beginning of the week in our weekly analysis of gold from here

Where we expected some corrective retracements before returning again to the upside, and we are currently targeting levels where we expected some corrective retracements before returning again to the upside, and we are currently targeting the levels of 3,410 dollars per ounce, then 3,440 and finally near the main peak at the levels of 3,500 dollars per ounce.

In the event of a pullback again near the lower boundary of the ascending price channel near the levels of 3,360 dollars per ounce, it is possible to buy again.

This scenario fails if the USD 3,345 levels are broken.