XAUUSD price has coming some importance area ,"Gold holdings in China as part of the total reserves are still very low, so there is probably room for further purchases down the road,” he said Giovanni Staunovo, an analyst at UBS Group AG.
China bought around 1650/OZ compared to $1787 today.
What's still not clear is where the rest of the Q3 gold buying came from; the World Gold Council reported that central banks had bought 400 tons of gold.
In other gold-bullish news this week, Credit Suisse analyst Zoltan Pozsar went on a bit of a tangent in a note and suggested Russia could start selling oil for gold.
Does it follow from your idea that at first we see the price drop and after reaching 1800 we see the price rise?
ProsantoFX
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@Aminal6666, I always flow current market momentum and current market liquidity 1901.829 is current market strong zone .please wait what will be next step than we should confirm to find out accumulation.