Gold movement forecasts for the coming period

Gold is on the fundamental side

Gold prices rose on Monday as a result of increased demand for a safe haven due to macroeconomic and geopolitical tension, as the price of the precious metal rose with US President Trump's pledge to double tariffs on steel and aluminum imports to 50% as of Wednesday, and the US dollar also fell, enhancing the attractiveness of gold as an alternative safe haven.

The United States and China are publicly at odds over allegations of violations of the May Trade Agreement, which increases market volatility.

At the same time, a major attack by Ukraine on Russian military airfields has reduced the prospects of reaching a peace agreement between them.

Gold is on the technical side

Gold broke through the downtrend levels on the four-hour frame as mentioned in the weekly analysis video here

From there, we expect gold to continue rising to complete the described harmonic models with the possibility of buying again if the levels of 3330 to 3325 dollars per ounce are retested.

We are targeting the levels of 3365, then 3405 and finally the levels of 3440 dollars per ounce.

This scenario fails if the levels of 3290 dollars per ounce are broken.