Gold market is rising strongly, what is the next target?
Updated
Dear friends, during last week's trading session, we witnessed the Gold market surpassing the psychological resistance level of $2000, just as expected. Investors sought to protect their assets as uncertainties in the Middle East continued to unfold.
At the time of writing this article, the price temporarily halted at $2006. Overall, there has been a relatively stable upward trend, finding support around $1960 and $1980. However, Gold has not experienced any significant breakthroughs, causing growth signals to slow down.
Regarding the forecast for the upcoming week:
- It is likely that the Gold market will move sideways as investors monitor the fluctuation of US Treasury bond yields. Additionally, escalating conflicts in the Middle East will further influence and confirm the Gold price trend. The next week promises to be a hot one for the Gold market.
- The expected price increase could reach $2015, $2035, and $2050, with potential short-term corrections in the near future. So, what is your perspective on this?
At the time of writing this article, the price temporarily halted at $2006. Overall, there has been a relatively stable upward trend, finding support around $1960 and $1980. However, Gold has not experienced any significant breakthroughs, causing growth signals to slow down.
Regarding the forecast for the upcoming week:
- It is likely that the Gold market will move sideways as investors monitor the fluctuation of US Treasury bond yields. Additionally, escalating conflicts in the Middle East will further influence and confirm the Gold price trend. The next week promises to be a hot one for the Gold market.
- The expected price increase could reach $2015, $2035, and $2050, with potential short-term corrections in the near future. So, what is your perspective on this?
Note
The decision of the interest rate of the US Federal Reserve on Wednesday will be the main economic event next week.Note
October 1 we will have two important news from Fed and one from Jolt
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