Gold prices continued to fluctuate strongly over the weekend
Hello dear friends, let's recap last week's gold prices and discuss a new strategy for the upcoming week with Karina!
Gold closed the trading week at $2,019 per ounce, experiencing a decrease of nearly $17 on the final day.
It seems that determining the trend of gold is challenging due to its susceptibility to market news, particularly news about the Fed's interest rates.
Gold appeared to be stagnant throughout the day but continuously made unexpected breakthroughs upon the release of Fed news. There were moments of significant increases, as well as sudden declines.
Currently, on the analysis chart, gold remains in a downward trend with a resistance level near $2,040. The outlook for the next week leans towards a price decrease, with a target of $1,997 and a possible defensive level at $1,982.
Gold closed the trading week at $2,019 per ounce, experiencing a decrease of nearly $17 on the final day.
It seems that determining the trend of gold is challenging due to its susceptibility to market news, particularly news about the Fed's interest rates.
Gold appeared to be stagnant throughout the day but continuously made unexpected breakthroughs upon the release of Fed news. There were moments of significant increases, as well as sudden declines.
Currently, on the analysis chart, gold remains in a downward trend with a resistance level near $2,040. The outlook for the next week leans towards a price decrease, with a target of $1,997 and a possible defensive level at $1,982.
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.