Gold Price Takes a Petrodollar Hit, but the $5,000 Setup Survives
BeInCrypto
Gold faces short-term pressure from a strengthening dollar but maintains technical indicators supporting a potential climb toward the $5,000 mark.Summary
Gold prices recently pulled back to $4,722 as a rebounding US Dollar Index (DXY) revitalized the petrodollar effect, creating temporary headwinds. Despite this, analysts point to several bullish signals, including a hidden RSI divergence and a favorable gold-silver ratio, suggesting the underlying uptrend remains intact. To reach the $5,000 target, gold must overcome resistance at $4,852, supported by a weakening dollar and continued structural strength relative to silver.
(Source：BeInCrypto)