Gold prices have pulled back from the $3400 mark due to a rebound in the dollar, causing a temporary stall in the yellow metal’s upward momentum. Despite this retreat, key support levels seem to hold firm, indicating that bulls remain optimistic about a potential breakout toward the resistance levels of $3435 and $3500.

This recent pullback highlights the ongoing tug-of-war in the market, combining pressures from currency fluctuations and economic developments. Many investors were eyeing the $3400 threshold, and while resistance has emerged, the market sentiment for gold remains cautiously optimistic. Traders should pay close attention to the dollar’s strength as it heavily influences gold movements.

Experts suggest that for gold to resume its bullish trajectory, it must break above the $3400 level decisively. Recent trends show that despite fluctuations, there remains significant interest in gold investment as a safe haven amidst every market condition.