Gold Strengthens as Geopolitical Risk Increases
Gold continues to respect a bullish market structure, with price developing a clear impulsive sequence followed by shallow corrective waves. The recent pullback found support near the 4,400 zone (wave iv), and price is now pushing higher again, confirming buyers control.
The bullish scenario remains intact. A clean continuation higher could first target the resistance zone 4,548.
A breakthrough at the top of the structure 4548 should push GOLD easily to 4,600. If momentum remains strong, the next major upside target is located near 4,650.
On the fundamental side, gold is also benefiting from rising geopolitical uncertainty. Recent geopolitical tensions fueled by Trumps rhetoric and positioning regarding Greenland have added another layer of risk sentiment to global markets.
Any escalation or uncertainty in U.S.European relations tends to support safe-haven assets such as gold, reinforcing the bullish technical outlook.
You may find more details in the chart!
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