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Gold Forecast: Gold Pulls Back as Traders Lock in Profits Before Holiday


Gold Pulls Back as Traders Lock in Profits Before Holiday

Gold saw a slight pullback during Thursday’s session after initially moving higher, likely due to lighter trading activity ahead of the upcoming Good Friday holiday. With futures markets set to be closed for the day, many traders might be sitting on the sidelines. Despite this pause, the overall sentiment around gold remains strongly bullish, and the recent dip appears to be nothing more than a temporary breather in an otherwise upward trend. 


Key Points:

  • Gold pulled back slightly after an early rally on Thursday.

  • The Good Friday holiday is contributing to lower trading volume.

  • The bullish momentum remains strong despite short-term pullbacks.

  • Key support levels include $3,000 and $3,200.

  • Geopolitical tensions and central bank buying support higher prices.


Looking ahead, $3,000 seems like a solid baseline or floor for prices, although there are other key support levels to watch—$3,200 being a significant one. The market has consistently followed the 50-day EMA, and now that it's broken to the upside, it reflects how much capital is flowing into gold. Global tensions, trade barriers, and ongoing geopolitical uncertainties are fueling demand, especially as central banks continue stockpiling gold as a safe-haven asset. It’s wise to stay informed on these factors, as they’ll likely continue pushing the market higher.

US Dollar Falling


The recent decline in the US dollar has certainly played a role in boosting gold prices, and that’s clearly reflected in the charts. Right now, everything seems to be aligning just right for gold to keep climbing higher. We had a classic bullish flag pattern form earlier, which projected a move toward the $3,300 level—and we’ve already hit that target.

At this stage, we’re venturing into somewhat unfamiliar territory, but one thing is clear: any pullback in price will likely be met with strong buying interest. Traders are consistently looking for opportunities to jump in whenever gold appears to offer value, reinforcing the idea that demand remains solid even during short-term dips.


Gold remains a strong performer amid economic uncertainty. A weaker US dollar, rising geopolitical tensions, and central bank buying are all driving momentum. Even after hitting $3,300, buyers continue to step in on dips. With solid support and bullish sentiment, gold looks set to climb further in the near term.

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