Gold anticipated move toward the $4,243 and $4,350 targets is driven by a strong mix of fundamental and psychological factors beyond standard technical analysis.
First, the asset is showing massive institutional accumulation, holding its ground near $4,000 despite negative news and a sharp inflationary rise in oil prices from $68 to $100.
Second, the overwhelming bearish sentiment among retail traders calling for a drop to $3,500 serves as a powerful contrarian indicator, setting the perfect stage for a classic short squeeze upward.
Additionally, aggressive and sustained gold purchases by global central banks continue to provide a rock-solid fundamental price floor against heavy selling pressure.
Finally, the Federal Reserve's recent decision to pause interest rate hikes clears the runway for this upward correction to fully play out before the next policy meeting in mid-September.


for my TA view
i think Gold is now consolidating in a second descending channels which will break out higher this coming Friday