Following our take profit target at $2,925 – Gold has retraced to the resistance turned to support level of $2,880.

This major support coincides with the 4 hour Ichimoku cloud and 55 SMA which from our perspective, is the last major support level.

Given the geopolitical risks in Europe as well as US tariffs to be implemented we consider Gold as holding on to these major support levels and looking to penetrate to the upside.

If Gold is to hold the $2,880 level we then target $3,250 as first target and in extension $3,500.

On the other hand if Gold is to penetrate the major support level of $2,880 then $2,790 and $2,660 com in to play.