Gold price continued its upward trajectory, reaching a record high of $2,3545 in the Asian trading session on Monday. However, it later retreated below the $2,335 mark as market sentiment shifted, dampening the demand for gold.
Before resuming its upward trend, gold price dipped to a low of $2,305, coinciding with the 20-day Simple Moving Average (SMA) touching. If gold price breaks below this level, it may trigger a short-term price decline. If subsequent support levels are also breached, it could signal a prolonged period of downward movement. This indicates that the gold market is experiencing volatility and uncertainty.
Before resuming its upward trend, gold price dipped to a low of $2,305, coinciding with the 20-day Simple Moving Average (SMA) touching. If gold price breaks below this level, it may trigger a short-term price decline. If subsequent support levels are also breached, it could signal a prolonged period of downward movement. This indicates that the gold market is experiencing volatility and uncertainty.
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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.