Gold 10 July Double bottom

GOLD are trading at 3,317. The recent price action reveals a potential double bottom formation, indicating bullish sentiment as the price looks to rally. Despite some consolidation near current levels, the overall trend remains upwards, supported by recent higher highs and higher lows. Analysts generally favor a Buy rating due to Gold's status as a safe-haven asset amid economic uncertainty, which strengthens its price resilience. The projected 12-month target price reflects anticipated growth driven by inflationary pressures and geopolitical tensions. Key strengths include robust demand in manufacturing and investment sectors, while risks are introduced by fluctuating interest rates and dollar strength. In summary, Gold is well-positioned for growth, making it an attractive option for investors.