Gold Bull Run Continues: Targeting 3000+ as Fundamentals Align

Current Market Dynamics & Technical Confluence

Good morning, KoraFX community! Hope you're all having a productive week. My eyes are firmly fixed on XAU/USD, and I'm seeing a strong bullish setup for a position trade here. Gold is currently trading around 2936.86, showing a healthy 0.58% gain over the last 24 hours, adding 16.86 to its price. The overall trend remains undeniably bullish, and we've seen solid demand entering the market, keeping price action within a day range of 2911.57 to 2962.15.
From a technical perspective, the price action suggests that dips are being bought up quickly. We have clear support levels at 2911.57 and the psychological 2900 mark, which should act as a robust floor. My entry for this long position is set at 2929, aiming to capture momentum after a minor consolidation or retest of demand. The confluence is strong here, with multiple timeframe alignment indicating sustained buying interest.

Fundamental Tailwinds & Risk Management

Beyond the charts, the fundamental backdrop for gold remains incredibly supportive, strengthening my conviction for this long setup. Persistent global inflation concerns, coupled with ongoing geopolitical uncertainties, continue to fuel