Global Gold Analysis (Daily Time Frame)
After two weeks of significant decline, gold prices surged sharply due to increased demand arising from geopolitical tensions. These tensions caused gold to end the week above $2,700. Moving forward, market attention will focus on U.S. economic data, including the September Federal Reserve meeting minutes and key inflation indicators.
Gold, after breaking the 2716 level and closing with a strong bullish weekly candle, has revived hopes of reclaiming the bullish trend and reversing the short-term downtrend. Based on the current trend, two scenarios are likely:
- Main Scenario: Price rise towards the 2752 level, where a confirmation would trigger sell positions targeting 2644 and 2601.
- Alternative Scenario: Price rise towards 2829, followed by a price correction to the 2721 and 2700 zones.
Gold Analysis (4-Hour Time Frame)
The short-term downtrend has shifted to an uptrend.
- Main Scenario: If the price rises to the 2722-2727 range and the supply zone holds, expect a price decline towards 2627.
- Alternative Scenario: If the price breaks 2727, the price will continue rising towards 2760, and if confirmed, sell positions may be taken.
Gold Analysis (15-Minute Time Frame)
Expect price to rise towards the 2725-2733 zone, where sell positions targeting 2700 and 2684 can be tested.