Gold continues to benefit, continuously increasing in price
Updated
Hello dear friends, As predicted earlier, gold continues to maintain its upward trend as it consistently increases in value due to the benefits of a cooling USD and stable Fed interest rates. These two important factors are acting as strong leverage for gold's rapid rise since its decline to $1933.
As of now, gold has increased by nearly 500 pips in the past week and is approaching the resistance level of $1995. In order to reclaim its peak at $2010, gold needs to sustain its current stability and upward trajectory. A strong support level for gold would be $1980.
As of now, gold has increased by nearly 500 pips in the past week and is approaching the resistance level of $1995. In order to reclaim its peak at $2010, gold needs to sustain its current stability and upward trajectory. A strong support level for gold would be $1980.
Trade active
Comment
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.