🌏 Market Insights
Gold continues to trade within an upward channel, showing resilience despite global macroeconomic pressures. Several key factors are currently influencing price action:
📌 🔹 Indian Demand & Seasonality:
India is one of the largest consumers of gold, and with wedding & festival seasons approaching, physical demand remains strong.
Increased gold imports and jewelry demand may further support prices.
📌 🔹 Macroeconomic Drivers:
US PPI inflation came in hotter than expected, but a deeper look at the data suggests a more balanced inflation outlook.
CPI data last week also showed rising inflation, raising speculation that next week's PCE data (the Fed’s preferred inflation gauge) might be softer.
US tariff delays on major imports have slightly improved global sentiment, reducing pressure on safe-haven assets.
💡 With strong seasonal demand from India and mixed economic data, gold could see further upside, potentially testing new all-time highs (ATH).
📈 Key Technical Levels to Watch
🔺 Resistance Levels:
✅ 2933 – First key resistance level
✅ 2942 – Major supply zone
✅ 2960 - 2990 – High volatility zone
🔻 Support Levels:
✅ 2925 - 2920 – Key breakout retest level
✅ 2914 - 2908 – Strong support area
✅ 2895 - 2882 – Lower buy zone
📌 If gold holds above 2922 - 2920, the uptrend remains valid. A break below may indicate a short-term pullback.
🎯 Trading Plan for Today
💰 BUY SCALP SETUP:
📍 Entry: 2908 - 2906
📉 SL: 2903
🎯 TP Targets: 2912 - 2915 - 2920 - 2924 - 2928
📈 BUY ZONE (Long-Term Positioning):
📍 Entry: 2884 - 2882
📉 SL: 2879
🎯 TP Targets: 2884 - 2892 - 2896 - 2900 - 2905 - 2910
⚠️ SELL SCALP SETUP:
📍 Entry: 2940 - 2942
📉 SL: 2945
🎯 TP Targets: 2936 - 2932 - 2928 - 2924 - 2920
📉 SELL ZONE (High-Risk Reversal Area):
📍 Entry: 2959 - 2961
📉 SL: 2965
🎯 TP Targets: 2954 - 2950 - 2946 - 2942 - 2936
📌 It's Friday, and market volatility may increase. Be cautious of liquidity sweeps and strictly follow TP/SL to protect capital!
📌 Risk Management & Key Considerations
✅ Monitor bond yields & DXY for trend confirmation.
✅ Follow TP/SL strictly to avoid unnecessary risk exposure.
✅ Stay updated with key economic data releases.
📢 Do you think India's gold demand will keep pushing prices higher? Drop your thoughts in the comments! 🚀🔥
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