Hello colleagues, Gold has soared in price amid easing inflation fears. Calm in the Middle East has led to a drop in oil prices, which in turn has reduced inflationary pressure and decreased the likelihood of aggressive measures by central banks. This has revived interest in gold after a recent decline, although the situation remains fragile and fully depends on further developments in the Middle East. There is a strong movement in gold, exceeding its typical daily volatility, and there are no signals for a reversal yet. If the daily candle closes above the level of 4614, it will open up opportunities for buying with the potential to rise to 4710 and beyond. However, be prepared for a scenario of a false breakout at the level of 4659, which could lead to the daily candle closing below 4614. In this case, this movement will be considered a false breakout, and the priority will shift towards a downward trend.
