XAUUSD Chart Analysis

After making all time new high Gold is now in down trend 

Yes

Agreed with your idea

Let's break down the current situation with Gold (XAUUSD) based on the analysis:

As I predicted GOLD will make new high today 3630 its on the way hitting on 3598

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Gold is making new high all the time

Gold is currently trading at $3,643.09 per ounce, with a 0.25% increase from the previous day. The precious metal has reached new highs, driven by expectations of Federal Reserve interest rate cuts and safe-haven demand amid geopolitical tensions.Key Factors Influencing Gold Prices:Federal Reserve Policy: Expected rate cuts in the upcoming meeting on September 17 are supporting gold prices.Geopolitical Tensions: Ongoing conflicts and economic uncertainty are boosting safe-haven demand.Inflation: Rising inflationary pressures are also contributing to gold's strength.Market Trends:Short-term: Gold is expected to fluctuate upward, with resistance at $3,656-$3,658 and support at $3,501.Long-term: Analysts predict gold prices could reach $3,800 per ounce, driven by investment demand and central bank purchases ¹ ² ³.Recent Developments:ANZ bank has raised its gold price target to $3,800 per ounce, citing solid investment demand.Central banks continue to diversify their reserves, buying gold at a rapid pace ³.Technical Analysis:The Relative Strength Index (RSI) is near overbought levels, suggesting a potential corrective move.Support levels are at $3,528-$3,530 and $3,501, while resistance is at $3,578 and $3,656-$3,658 ¹.  

Emmm, most likely end of this year

It can touch $4k within the month or can take some extra time to go