GOLD soaring, surpassing all-time peaks
Updated
World gold price stood at 2,112 USD/ounce, a sharp increase of 32 USD/ounce compared to the same hour yesterday morning. There was a time when the price of this precious metal reached 2,120 USD/ounce. Thus, the world gold price has set a new peak, this is the highest level of all time. The previous peak was set in early December 2023 at a price of 2,110 USD/ounce.
Weaker-than-expected US economic data released last week pushed US real interest rates down and this is what triggered the rise in gold prices. Expect gold prices to break out as recent price action has created some very bullish technical patterns.
Gold is forming consistent bullish patterns. The price spikes, consolidates for a period of time and then we see another price move higher. Gold sought to break even higher. From a technical standpoint, it looks like the expected target is for gold to go up by a few hundred dollars in the short term, but longer term, I'm looking at $2,700, $2,800, perhaps in a year or two next. Technically, gold price has very good potential.
Weaker-than-expected US economic data released last week pushed US real interest rates down and this is what triggered the rise in gold prices. Expect gold prices to break out as recent price action has created some very bullish technical patterns.
Gold is forming consistent bullish patterns. The price spikes, consolidates for a period of time and then we see another price move higher. Gold sought to break even higher. From a technical standpoint, it looks like the expected target is for gold to go up by a few hundred dollars in the short term, but longer term, I'm looking at $2,700, $2,800, perhaps in a year or two next. Technically, gold price has very good potential.
Note
SELL XAUUSD PRICE 2151 - 2149⚡️ ↠↠ Stoploss 2155
→Take Profit 1 2144
↨
→Take Profit 2 2139
BUY XAUUSD PRICE 2084 - 2086⚡️
↠↠ Stoploss 2080
→Take Profit 1 2091
↨
→Take Profit 2 2096
Note
🚫The US now has an 85% chance of recession in 2024, the highest probability since the Great Financial Crisis, economist David Rosenberg has said.Note
Note
SELL XAUUSD PRICE 2151 - 2149⚡️ ↠↠ Stoploss 2155
→Take Profit 1 2144
↨
→Take Profit 2 2139
BUY XAUUSD PRICE 2079 - 2081⚡️
↠↠ Stoploss 2075
→Take Profit 1 2086
↨
→Take Profit 2 2091
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Fed's Powell: We must be prepared to be surprised by the next chapter in the economy.
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