Gold price today increased sharply and rebounded
Updated
Hi everybody! Gold today clearly showed a certain improvement when returning to the price level of 1915 USD.
The recovery in gold prices is mainly due to better economic data from the US during this time. Leading to predictions that gold will increase slightly before the next move today.
Looking at the technical picture of Gold on the 4-hour chart, we can see that Gold is in a short-term uptrend. If that happens, it is likely to reach the 1924 level. More buyers may be invited to enter the market ahead of new developments.
The recovery in gold prices is mainly due to better economic data from the US during this time. Leading to predictions that gold will increase slightly before the next move today.
Looking at the technical picture of Gold on the 4-hour chart, we can see that Gold is in a short-term uptrend. If that happens, it is likely to reach the 1924 level. More buyers may be invited to enter the market ahead of new developments.
Note
Gold remains solidly supported over the long term thanks to strong demand from Chinese banks. Good luck trader.Note
Gold has broken through the 1925 USD resistance and is aiming for the 1938 USD target.Note
The price increased sharply, surpassing the 1930 mark. Today or tomorrow the price will reach the next resistance mark 1940-1942. The SELL item in this area will be activatedDear friends,
Note
Gold prices increased short-term this week but were affected by information about the FED's upcoming interest rate increase. But recent results show that the world's No. 1 economy is gradually recovering quickly in the second half of 2023. Therefore, it may be the reason why Gold will decline in the near future, with the possibility of gold returning below 1900. .
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