Gold continues to rise to new highs?
Updated
Dear readers, here we are again, stepping into another vibrant discussion with Selena about today's gold price!
Currently, on the gold exchange, the price remains steady at $1930. The market today is quite calm, with the focus seemingly shifting towards the upcoming Fed meeting to determine the next steps for this precious metal.
From a technical standpoint:
On the 4-hour chart, gold has reached a peak at $1935 and is trading above the 34 and 89 EMA lines, indicating that the upward trend is still intact. However, there may be a slight decline in gold towards the support level of $1924-1925 before the possibility of forming a Dow and continuing its upward movement.
Currently, on the gold exchange, the price remains steady at $1930. The market today is quite calm, with the focus seemingly shifting towards the upcoming Fed meeting to determine the next steps for this precious metal.
From a technical standpoint:
On the 4-hour chart, gold has reached a peak at $1935 and is trading above the 34 and 89 EMA lines, indicating that the upward trend is still intact. However, there may be a slight decline in gold towards the support level of $1924-1925 before the possibility of forming a Dow and continuing its upward movement.
Note
What do you think about gold prices today?Note
Gold is still maintaining its upward momentum since the last drop to 1900 USDNote
if the Fed fails to convince markets about one more rate hike by year-end, a fresh upswing will be seen toward the September high of $1,953Note
Gold last night had a move like a technical indicator when the price increased to reach the resistance level of 1945 USDNote
A dovish verdict by the BoE could work in favor of the non-interest-bearing Gold price. However, the weekly Jobless Claims and other minority reports from the United States could also impact the US Dollar valuation, in turn, influencing Gold price.
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