Marina Lyubimova
● Market analyst Faruk recently broke down what's happening with gold, and the picture looks pretty good. Despite all the ups and downs we've been seeing, gold's keeping its bullish trend alive by sitting right at an important support level. According to Faruk, as long as XAU doesn't drop below this zone, we should expect the upward momentum to keep going.
● Here's where it gets interesting: Faruk pointed out that even if the trend does break, gold might dip below $4,000 for a bit. But he doesn't see that as a bad thing – actually, it could be a solid buying opportunity. He thinks the market will just keep building positions in that $4,000 range anyway.
● Looking at the bigger picture, Faruk's staying optimistic about gold for the long haul. Even if we see a small pullback, he believes the metal's going to remain a strong play for future gains.
● What's really standing out is how gold's been holding steady above those critical price points. Buyers are clearly interested, and that suggests we could see more upside if these support levels keep holding.
● The main thing to watch, according to Faruk, is whether gold can maintain its current support. As he put it: "As long as gold doesn't break below these levels, I'm staying bullish for the long-term, with room for more growth once support is confirmed."
● His take lines up with what other experts are saying – gold's looking like a reliable safe-haven asset given everything that's going on in the global economy right now.
Marina Lyubimova
