Global economic's condition has went terrible for a few years, and GOLD became a popular goods for financial institution and central bank around the world.
With demanding, gold's price rising significantly, and there are clear uptrend showed on every time frame charts.
First of all, the price rose from 1160 in 2018 and peaked at 1703 on Mar. 2020.
And it is worth to say that the price broke the previous resistance level(1360~1380) in the middle of 2019 which was never been broken since 2014.
Secondly, charts showed the previous resistance level is in Monthly,Weekly and Daily.
On the other hand, the BIG resistance been broken would leads big uptrend.
However ,the price never retracing obviously during the period, and pushing price up needs huge volume and money.
In my view, even though those financial institutions owned huge capital, they are not unlimited.
Thus,I believe that the price should be dropping off, as they do not have enough capital continue to support such a high price anymore in my opinion.
With demanding, gold's price rising significantly, and there are clear uptrend showed on every time frame charts.
First of all, the price rose from 1160 in 2018 and peaked at 1703 on Mar. 2020.
And it is worth to say that the price broke the previous resistance level(1360~1380) in the middle of 2019 which was never been broken since 2014.
Secondly, charts showed the previous resistance level is in Monthly,Weekly and Daily.
On the other hand, the BIG resistance been broken would leads big uptrend.
However ,the price never retracing obviously during the period, and pushing price up needs huge volume and money.
In my view, even though those financial institutions owned huge capital, they are not unlimited.
Thus,I believe that the price should be dropping off, as they do not have enough capital continue to support such a high price anymore in my opinion.