Weekly Gold Forecast (4/4/2023- 7/4/2023)

The value of gold has taken a step back from its downward trend of the past two weeks, settling at approximately $1,980 as of now.

Given the current market conditions, it is highly probable that the sellers of XAU/USD will continue to drive the price downwards, ultimately reaching the vicinity of $1,968.

As the market continues to fluctuate, Gold buyers remain cautious and require a strong push from recovery moves to break through the two-week resistance barrier at $1,990.

Despite the circumstances, the $2,000 psychological attraction and a resistance line that slopes upwards since mid-January, near the vicinity of $2,027, could potentially serve as the ultimate barrier for the Gold pessimists.

Forecast: Our sights are set on procuring purchasing ( Buys) opportunities from the present positions.