🟢 $XAU Long Setup — Gold Holding Strong Near $4,700
Price: ~$4,686 | Entry Zone Active Now ✅
All-time high was $5,595. We're 16% below it.
Gold doesn't stay discounted for long.
📌 Entry: $4,678 – $4,689 (Demand Zone)
🎯 TP1: $4,705 — Minor Resistance
🎯 TP2: $4,715 — Mid-term Structural Level
🎯 TP3: $4,731 — Main Supply Objective
🛑 SL: $4,665 | R:R ≈ 1:2.3 ✅
🔹 52-week range $3,120 – $5,595. Daily signal rated Buy. Gold holding just below $4,700 with buyers defending the zone.
🔹 Fed rate cut probability near zero for June — rates staying high keeps safe-haven demand for gold elevated.
🔹 RSI at 51 — neutral, not overbought. Room to run before exhaustion. Price trading right at the 200-day SMA support zone.
⚠️ Watch: Initial jobless claims data dropping today — surprise number in either direction moves gold fast. Wait for entry confirmation before sizing in.
Below ATH. Safe-haven demand intact. Macro tailwinds still blowing.
Is $XAU heading back toward $5,000? 👇
Not financial advice. DYOR.
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