Gold’s Bullish Surge: Can It Shatter the $3,300–$3,500 Barrier Against Triangle Resistance?
Gold's rally isn't just a flash in the pan—it's hammering at the door of the $3,300–$3,500 range like a trader after three espresso shots.
The Triangle Tango
Price action's dancing along a critical resistance line, teasing a breakout that could either mint new gold bugs or leave them holding the bag—again.
Wall Street’s Nostalgia Play
While crypto eats traditional finance’s lunch, gold’s rally feels like your grandpa bragging about his rotary phone collection. But hey, even relics get their day in the sun.
Watch those charts. This metal either climbs or gets smelted down by gravity.
Tightening Price Patterns: Triangle Near a Decisive Break
Gold has traded inside a narrowing triangle for weeks with lower highs pressed against $3,379 and higher lows NEAR $3,300 support. A daily close above $3,380 could trigger upside momentum targeting $3,430 or more. If the price drops below $3,330, bulls may pull back toward $3,200. The gold triangle consolidation now signals a pivotal choice. Declining volume in recent days points to exhaustion inside the coil.
Macro Forces Boost Upside Targeting $3,500
Citi just lifted its 3‑month gold price forecast to $3,500, expanding its expected trading band to $3,300–$3,600, citing worsening U.S. growth, tariffs, and a weak dollar.
Global gold demand ROSE 3 percent in Q2 to 1,248.8 tonnes, due to growing ETF inflows and central bank buying. Central bank gold buying now accounts for a third of total demand, reinforcing the structural case.
What to Watch This Week
You should watch U.S. CPI, PCE, and Powell commentary. Clear signals can tip the triangle one way.
A breakout above resistance WOULD reinforce the case for a Fed rate cut and gold rally toward $3,430–$3,500. If the price falters at $3,360, the metal may trade within the $3,300 trading range until fresh catalysts shift sentiment.
Conclusion
Gold now sits at a potential turning point. You must watch whether it breaks gold breakout resistance above $3,372–$3,380. A confirmed MOVE higher opens the path to $3,500. Failure could confine gold to the lower half of the triangle.
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