Gold – Short breather on the way to $3000?

by JFD Research
11:35, 2024/12/03

The rise in gold in recent months has been highly dynamic. The cup and handle formation from the spring was resolved in a textbook manner. Our main scenario envisages further price increases up to the round mark of USD 3,000. This may already be the case within the next few weeks. At the USD 3,000 level, the price action must be analyzed in detail to derive further price targets.

However, should the precious metal fall below 2550 USD, the consolidation will potentially expand a little further in terms of time and price.

Only below 2450 USD would a return to the old breakout level at 2000 USD come into focus. However, we currently see this variant as a long way off.

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