Gold increased slightly in the last session of the week
Updated
Dear friends, Today, Gold rose nearly $30 due to escalating conflicts in the Middle East and the possibility of the Fed halting interest rate hikes, just as predicted yesterday. As a result, financial investors are concerned about the risks and have started selling stocks.
Consequently, the US and European stock markets are engulfed in red. The Dow Jones index plummeted by 250 points, the S&P 500 dropped by 36 points, and the Nasdaq declined by 128 points. Many stock investors continue to shift their capital into precious metals to preserve their funds. It is inevitable that the price of gold will rise.
At the time of writing, Gold is trading around $1971 - $1982. It can be seen that Gold is trading relatively calmly with a stable accumulation level. It is expected that the price of Gold will increase to $2010 in the near future due to the stability of the trend on the 1-hour time frame.
Consequently, the US and European stock markets are engulfed in red. The Dow Jones index plummeted by 250 points, the S&P 500 dropped by 36 points, and the Nasdaq declined by 128 points. Many stock investors continue to shift their capital into precious metals to preserve their funds. It is inevitable that the price of gold will rise.
At the time of writing, Gold is trading around $1971 - $1982. It can be seen that Gold is trading relatively calmly with a stable accumulation level. It is expected that the price of Gold will increase to $2010 in the near future due to the stability of the trend on the 1-hour time frame.
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Note
Gold agents in India are forced to give higher discounts because domestic prices skyrocket slowly the demand before the important festival. Therefore, in the last session of the golden week, it showed that it traded gloomy at 1980 USDNote
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