Gold Forecast for September 11, 2026
The bearish margin cycle for Gold has finally closed. Gold has drifted toward the 4300 support level, but since there are lower levels acting as support, I am considering two scenarios today:
1. Formation of a reversal pattern and a breakout above the 1/4 margin zone from the current low. In this case, I will look for long positions targeting the 1/2 margin zone.
2. Another test of the lows and the margin zone, specifically targeting the 4280 area, which sits directly within that zone.
Gold prices declined following employment data and escalating tensions in the Persian Gulf.
Growing expectations of a Federal Reserve rate hike are driven by the labor market report and rising geopolitical risks in the Strait of Hormuz region.
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