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Today, the price of gold is trading around $2060 and the US dollar is strengthening, but the global price of gold remains relatively high. This indicates a significant demand for this commodity. In Asia, some countries are in a peak period of gold consumption, such as India and China.
The current support level is $2052 and gold is likely forming a head and shoulders pattern. In this scenario, the current support level is likely to be broken, and this metal may regain momentum and retest the trend at $2032.
What do you think, how will gold move?
Today, the price of gold is trading around $2060 and the US dollar is strengthening, but the global price of gold remains relatively high. This indicates a significant demand for this commodity. In Asia, some countries are in a peak period of gold consumption, such as India and China.
The current support level is $2052 and gold is likely forming a head and shoulders pattern. In this scenario, the current support level is likely to be broken, and this metal may regain momentum and retest the trend at $2032.
What do you think, how will gold move?
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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.