Gold price looks to $1,880
Updated
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Today, the price of gold is trading more steadily above $1,860, reaching a new weekly high in Tuesday's trading. Gold continues to benefit from the military conflict between Palestine and Israel, while the weak US dollar helps maintain its price momentum.
In the coming period, the upward opportunities will be more certain. However, gold will need to surpass the aforementioned daily high to further expand its positive trend. On the other hand, slipping below $1,845 could lead to a decline towards the $1,830 price level. This level is also considered an important support level, which could help the upward momentum resume.
Support levels: $1,844, $1,831, $1,824.
Resistance levels: $1,855, $1,867, $1,880.
Today, the price of gold is trading more steadily above $1,860, reaching a new weekly high in Tuesday's trading. Gold continues to benefit from the military conflict between Palestine and Israel, while the weak US dollar helps maintain its price momentum.
In the coming period, the upward opportunities will be more certain. However, gold will need to surpass the aforementioned daily high to further expand its positive trend. On the other hand, slipping below $1,845 could lead to a decline towards the $1,830 price level. This level is also considered an important support level, which could help the upward momentum resume.
Support levels: $1,844, $1,831, $1,824.
Resistance levels: $1,855, $1,867, $1,880.
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Gold is moving in line with the indicator, the price has dropped to 1858.7 USDTrade active
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