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Analysis

Gold sets new record high $2,807, next $2,868 or $2,768?

  • Gold updates new record high $2,807.

  • Bulls willing to go extra mile, eyeing $2,828 and $2,868.

  • Markets will monitor key economic date outcome and will be cautious for pullback.

  • Dynamic support base shifts a tad higher at $2,768. 

Driven by safe haven demand due to concerns from Trump tariff, Gold found strong tailwinds from local demand zone $2745-$2755 area and finally Gold bulls succeeded in updating a new record high at $2807

There is still enough room for further rise from this zone.

Next potrntial upside may reach for $2828 above which short term targets may come for $2863

On any retracement move downwards, $2785 will be the first line of defense below which $2770 would come next support.

Sellers' intervention below $2770 will be more visible if $2770 is breached as $2755-$2745 zone is now sensitive and delicate point of interest where bears take control.

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