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GOLD all time high level 3,500. Gold has surged above the top of its months-long ascending triangle, confirming a bullish breakout and signaling further upside. Momentum indicators remain supportive as prices near April’s $3500 peak, with $3575–$3600 the next key targets, Société Générale's FX analysts note. Uptrend resumes as Gold clears key resistance "Gold has broken above the upper boundary of the ascending triangle within which it consolidated since April, signaling a resumption of the uptrend. The daily MACD remains in positive territory and above its trigger line, indicating renewed upward momentum." "Gold is now approaching the April high of $3500. Should a brief pullback occur, the upper end of the recent range near $3450 is likely to serve as initial support. Beyond $3500, the next upside projections are at $3575/3600 and $3650."

What a great bullish Flag Gold went up. Gold tests new highs as traders focus on weak dollar and bet on dovish Fed. Worries about Fed independence provide additional support to gold markets. A successful test of the resistance at $3440 – $3450 will open the way to the test of the next resistance level at $3490 – $3500.
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