After the ECB interest rate hike yesterday gold started it's upwards move which perfectly aligned with the major support at 1680.
Next for gold, I expect a long term upwards move considering everything that is going on around the world, The fact that Europe has now decided to rise rates means USD won't keep getting stronger anymore which will force investors to move onto the next safe asset in times of uncertainty, and that's gold.
I believe 1850 will be our target for the next few weeks or months.
Good luck.
Next for gold, I expect a long term upwards move considering everything that is going on around the world, The fact that Europe has now decided to rise rates means USD won't keep getting stronger anymore which will force investors to move onto the next safe asset in times of uncertainty, and that's gold.
I believe 1850 will be our target for the next few weeks or months.
Good luck.