Gold Trade Setup – 24th Feb

Gold enters Tuesday under short-term pressure after rejecting recent highs, with price action slipping back as the US dollar stays firm and US 10-year yields hold near the 4.04% area. That combination has shifted the near-term balance toward profit-taking, even with broader macro uncertainty still elevated. The key backdrop today is a headline-heavy macro session: tariff-related uncertainty remains in focus, and later US data plus Fed speakers could quickly change the tone. For now, gold is trading more like a USD/yield-sensitive macro instrument than a pure safe-haven trend. Our A+ setup reflects that near-term dynamic: a tactical, levels-based approach built around fading strength while dollar and yield pressure remains in place. Gold Trade Setup: Pair / Asset Bias & Entries Stop / Invalidation Targets Why A+ (Fundamentals, Technicals, Sentiment) Price Action Driver Near-term catalysts (UK time) GOLD SHORT – Sell rallies 5176 – 5188 or breakdown below 5168 / 5170 (5m chart pivot area is 5172) 5202 (or 5195 for tighter risk if entering breakdown) T1: 5148 T2: 5128 Fundamentals: Reuters says gold is pulling back from a 3-week high as a firmer dollar triggers profit-taking, even though tariff uncertainty remains supportive in the background. Technicals: Your 5m chart shows a weak bounce/failure around the 5172 area after a sharp drop from 5240s. Sentiment: This is a tactical short while USD and yields remain firm; not a structural bearish call. DXY & US10Y yields (primary), then risk headlines Tues 24th Feb: 14:00 – 16:00 Fed speakers & US confidence; any hawkish tone / stronger USD likely pressures gold. (Reuters) Chart by TradingView – Gold Trade Setup – 24th Feb Conclusion This is a tactical gold setup, driven mainly by the current USD-and-yields backdrop rather than a broader bearish shift in the metal. As long as the dollar remains supported and yields stay firm, gold rallies are vulnerable to selling pressure. The main risk is a macro tone change later today, especially if US data weakens, Fed commentary is softer than expected, or risk sentiment deteriorates enough to bring safe-haven demand back into gold. That is where the setup can reverse quickly. We will remain disciplined around the key US event window, respect invalidation, and avoid chasing price between levels. In this environment, gold can move sharply in both directions once headlines hit. This analysis is for informational purposes only and does not constitute investment advice. Trading involves risk; manage exposure accordingly. For similar FX Trade Setups please visit our FX Trade Ideas page. Please visit our Disclaimer page. Disclaimer Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. TerraBullMarkets.com does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets or any financial instrument involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of TerraBullMarkets.com nor any of its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. TerraBullMarkets.com and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. TerraBullMarkets.com and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and TerraBullMarkets.com are not registered investment advisors and nothing in this article is intended to be investment advice. TerraBullMarkets...