Gold price and prospect of increase?
Updated
Hello dear friends !
Yesterday as we expected, gold fluctuated and fell sharply until 2013 USD and completed the selling target as mentioned before.
However, the price quickly returned to 2033 USD like the previous days and continued to stabilize around this area.
The yellow metal's upside could be limited by the possibility that the Fed may not start cutting interest rates as soon as expected, which could put some selling pressure on XAU/USD prices.
Review and trend of gold: In general, gold is still in a downtrend, but the selling force has gradually decreased and the possibility of switching to an increase is due to the appearance of signs of convergence from the trendline and the RSI indicator. The support level around 2015 - 2017 USD has not been broken and is still a bright spot for gold to rebound.
And you, do you think gold can increase again?
Yesterday as we expected, gold fluctuated and fell sharply until 2013 USD and completed the selling target as mentioned before.
However, the price quickly returned to 2033 USD like the previous days and continued to stabilize around this area.
The yellow metal's upside could be limited by the possibility that the Fed may not start cutting interest rates as soon as expected, which could put some selling pressure on XAU/USD prices.
Review and trend of gold: In general, gold is still in a downtrend, but the selling force has gradually decreased and the possibility of switching to an increase is due to the appearance of signs of convergence from the trendline and the RSI indicator. The support level around 2015 - 2017 USD has not been broken and is still a bright spot for gold to rebound.
And you, do you think gold can increase again?
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