📊 Gold Prices Were Reaching New Highs, But Is a Major Decline Coming?
Are the current support levels strong enough to hold this pressure, or are we about to see further declines? Let’s analyze the 4-hour chart!
📈 Recent Gold Performance and Market Conditions
🔹 Gold prices stalled near the $3,000 level, a major psychological target.
🔹 Volatility increased following new U.S. tariff announcements by President Donald Trump.
🔹 Signs of a potential correction in gold prices are emerging in the current market conditions.
📌 Key Takeaways for Pakistani Investors:
✔ If gold prices decline, it could be a buying opportunity.
✔ If the price approaches $2,793 and holds as support, it may signal a new bullish trend.
✔ Gold prices in Pakistan will fluctuate based on global trends, so stay updated daily.
📊 Key Technical Insights on Gold Prices
📌 For the latest gold market updates, visit: DailyForex.pk
🔹 On the 4-hour chart, gold prices have been forming higher highs consistently.
🔹 The price has been following an upward trendline since the start of the year.
🔹 According to the Fibonacci retracement tool, key buying zones are likely at 50% ($2,850) and 61.8% ($2,793) support levels.
📌 Best Trading Points:
✅ If gold rebounds at 50% Fibonacci level, it may create new all-time highs.
✅ If gold stabilizes at 61.8% Fibonacci support, further bullish momentum can be expected.
✅ However, if the price closes below $2,793, it may trigger a larger sell-off.
📉 Potential Gold Price Decline – Will We See a Bigger Drop?
🔹 If gold breaks the $2,793 support, prices could decline further to $2,700.
🔹 Increased selling pressure near the 100-SMA level suggests a possible downward move.
🔹 A strong bearish candle closing below this level could confirm further declines.
📌 Strategy for Pakistani Investors:
✅ If the price bounces at $2,850, it may be a short-term buying opportunity.
✅ If gold drops below $2,793, it may indicate further weakness, creating short-selling opportunities.
✅ If the price rises above $2,954 again, new record highs could be expected.
🔍 Final Analysis – Is It Time to Buy or Sell?
✔ If the market stabilizes and holds at 50% or 61.8% Fibonacci levels, these could be ideal buying zones.
✔ If gold closes below the 100-SMA, further downside potential may emerge.
✔ Pakistani investors and forex traders should stay updated on global news and market trends.
🚀 Stay ahead with the latest Forex and Gold Market Updates: DailyForex.pk 💰📊