Gold price "BOOMING" at the end of the transaction
Updated
Dear beloved friends,
Today, gold concluded its trading session with a significant surge in price. This precious metal has reached a high level of approximately $1932, experiencing a substantial increase of $63.53 in just one day.
You may wonder why the price has risen so drastically.
Regarding international market information:
- Gold prices soared at the beginning of the trading session in the United States due to a stronger demand for safe-haven assets. This heightened demand is a result of escalating tensions between Israel and Hamas.
- If the conflict in the Middle East continues to escalate, gold prices may continue to rise as they did during the previous conflict between Russia and Ukraine.
Outcome:
- This ongoing conflict will continue to impact both crude oil and gold prices, causing an increase in both commodities. In this context, gold becomes a safe haven for investors, leading to an unexpected surge in its value, resembling an explosion.
Regarding technical analysis and price prediction for gold in the future:
- Gold has surpassed both the 34-day and 89-day exponential moving averages (EMA), indicating a strong possibility of further price increases.
- Currently, gold is operating near a resistance level at $1935, with immediate support at $1905. Overcoming the $ 1935 resistance will open up the opportunity to increase the price for this precious metal towards higher levels at 1945 and 1965 USD as on the 4H analysis chart.
Today, gold concluded its trading session with a significant surge in price. This precious metal has reached a high level of approximately $1932, experiencing a substantial increase of $63.53 in just one day.
You may wonder why the price has risen so drastically.
Regarding international market information:
- Gold prices soared at the beginning of the trading session in the United States due to a stronger demand for safe-haven assets. This heightened demand is a result of escalating tensions between Israel and Hamas.
- If the conflict in the Middle East continues to escalate, gold prices may continue to rise as they did during the previous conflict between Russia and Ukraine.
Outcome:
- This ongoing conflict will continue to impact both crude oil and gold prices, causing an increase in both commodities. In this context, gold becomes a safe haven for investors, leading to an unexpected surge in its value, resembling an explosion.
Regarding technical analysis and price prediction for gold in the future:
- Gold has surpassed both the 34-day and 89-day exponential moving averages (EMA), indicating a strong possibility of further price increases.
- Currently, gold is operating near a resistance level at $1935, with immediate support at $1905. Overcoming the $ 1935 resistance will open up the opportunity to increase the price for this precious metal towards higher levels at 1945 and 1965 USD as on the 4H analysis chart.
Note
edit idea: 12H analysis chart.Note
done target
Note
The probability of a rate hike in December from the Fed spiked up to 38%, according to the CME Fedwatch tool, compared with about a 28% chance seen before the report. Currently, markets price a 30% chance of a final Fed rate hike in December.Note
Important news affects gold prices to note next week:Core retail sales & retail sales
First unemployment statement, Fed Powell president spoke
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Trade closed: target reached
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