Spot gold fluctuated within a narrow range and is currently trading around $1,945 per ounce. Weak U.S. economic data has deepened expectations that the Federal Reserve will suspend interest rate hikes this year. This caused the U.S. dollar index to refresh a nearly two-week low to around 102.92 on Wednesday. It helped the price of gold hit a nearly one-month high of $1,948.90 an ounce.
Resistance: 1948; 1954; 1966; 1972;
Support: 1940; 1931; 1923; 1916;
Suggestions for short-term operations: be cautious about shorting short positions on highs, and long positions on lows.
Note
Gold prices fluctuate normallyNote
no big ups and downsNote
Gold is currently moving in the direction of expected normal fluctuations
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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.