
WagmiGoats Insights (WGi) 📊
February 4, 2025 at 08:25 PM
*🔹 5 FEB 25’ GOLD FORECAST*
*🟡 GOLD ANALYSIS*
📌 Gold surged to a new all-time high, reaching $2,856, driven by safe-haven demand amid escalating U.S.-China trade tensions. However, the price is now facing a short-term pullback.
*📉 Intraday Price Action:*
🔸 Current Price: $2,834
🔸 Correction Expected: Gold is likely to test $2,823 before resuming its uptrend toward $2,845 and $2,856.
🔸 Key Breakout Level: $2,809 – Staying above this keeps the bullish structure intact. A break below $2,809 could trigger further declines.
*📊 GOLD KEY LEVELS*
💠 Pivot Point: $2,834
💠 Resistance Levels: $2,845, $2,856, $2,865
💠 Support Levels: $2,823, $2,809, $2,797
*💹 TREND OUTLOOK*
✅ Bullish above $2,823
📍 Expected movement range: $2,823 – $2,845
❌ Bearish if price breaks below $2,809, which could push gold toward $2,797.
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*🟢 DRIVERS BEHIND GOLD MOVEMENT:*
💬 Gold holds near record highs as demand for safe-haven assets remains strong.
💬 U.S. dollar pares gains after the Trump administration delayed tariffs
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