Gold bullish scenario
Updated
Today, we see a positive price movement compared to yesterday when a new low was formed at $2589.
The US session could bring new momentum and push the price above $2620. Gold has a chance to recover to the $2635 level. With that step, we return above the 38.2% Fibonacci level.
If the bullish momentum continues, the next target is $2650 and the 0.50% Fibonacci level.
The US session could bring new momentum and push the price above $2620. Gold has a chance to recover to the $2635 level. With that step, we return above the 38.2% Fibonacci level.
If the bullish momentum continues, the next target is $2650 and the 0.50% Fibonacci level.
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The new jump in the US CPI further supported the dollar index on a bullish path. Gold did not last, and we saw another pullback.
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