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.

Sunil Kumar Dixit SK Charting

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.

Author

Sunil Kumar Dixit

SK Charting

Sunil Kumar Dixit is Chief Technical Strategist and founder of SK Charting, a research firm based in India. He tracks Precious Metals, Energy, Indices and Currency Pairs. He also participates as an expert panellist on Channel Television, Nigeria.

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