Gold: Breakout sustains upward momentum – Societe Generale
Societe Generale analysts highlight that Gold has broken out of a small base formation, reclaimed its 200‑DMA and is enjoying an extended rebound. The move is framed within broader Dollar debasement concerns and rising term premium.
Societe Generale analysts report that gold has broken out of a small base formation and is now holding above its 200-day moving average (DMA), indicating sustained upward momentum. The bank cites broader concerns over dollar debasement and a rising term premium as factors contributing to the move. Gold has reclaimed the 200-DMA near $4,510, with this key support level crucial for maintaining the rebound.
The next potential hurdles for gold are identified at $4,730 and $4,770, before aiming for the April peak of $4,890. Investors remain cautious, awaiting key economic events and details surrounding US sanctions on Iran.
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