$2000 is the biggest barrier for gold
Updated
After recovering from the 200 SMA, Gold prices have risen back to 2009 resistance, following a double peak pattern. Double tops are frequently indicated reversals.
If this is the double level we are finding then the price could bounce lower and look to test support at the November 13, 1931 low.
Meanwhile, if the butcher achieves a close above 2009 levels, prices could extend the bullish trend to April 2050 highs, before taking out 2082, the all-time high. into view.
If this is the double level we are finding then the price could bounce lower and look to test support at the November 13, 1931 low.
Meanwhile, if the butcher achieves a close above 2009 levels, prices could extend the bullish trend to April 2050 highs, before taking out 2082, the all-time high. into view.
Note
Gold prices edged higher on Thursday amid light holiday trading, as the US dollar weakened and as bond markets remained closed.The precious metal is struggling to extend gains above key 2000 levels amid some uncertainty surrounding the Federal Reserve's future interest rate path, which is making things difficult. for going higher from here.
Gold has surged over the past few weeks, up nearly 8% since the beginning of October and up 3% in the past two weeks alone. However, Gold's recovery momentum seems to be running out of steam,
The precious metal has been supported by expectations that the Federal Reserve's next move will be an interest rate cut rather than any further rate hikes. However, investors tempered expectations for a rate cut in 2024 following jobless claims data on Wednesday, which highlighted the resilience of the labor market.
Note
Note
Gold prices edged higher on Thursday amid light holiday trading, as the US dollar weakened and as bond markets remained closed.The precious metal is struggling to extend gains above key 2000 levels amid some uncertainty surrounding the Federal Reserve's future interest rate path, which is making things difficult. for going higher from here.
Gold has surged over the past few weeks, up nearly 8% since the beginning of October and up 3% in the past two weeks alone. However, Gold's recovery momentum seems to be running out of steam,
The precious metal has been supported by expectations that the Federal Reserve's next move will be an interest rate cut rather than any further rate hikes. However, investors tempered expectations for a rate cut in 2024 following jobless claims data on Wednesday, which highlighted the resilience of the labor market.
Note
SELL XAUUSD 2000 - 2002SL 2010
TP 1995
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