Gold prices hit an all-time high above $2,230
World gold prices ended the week stopping from March 29 (US time) - at 2,233 USD/ounce, because the market was closed for the Good Friday holiday.
Regarding international market information:
At the beginning of the trading week, world gold prices inched up slightly as the market waited for more clues about when to loosen monetary policy by the US Federal Reserve (Fed). However, gold prices unexpectedly broke out on Wednesday and conquered an all-time high on Thursday as investors sought a safe haven amid growing economic concerns and the prospect of cuts. interest rates.
Results: The world gold price is listed on the Kitco exchange at 2,233 USD/ounce. Gold futures ended the week at 2,254.8 USD/ounce.
Regarding technical analysis and prediction of gold prices in the near future:
- Gold has crossed above both the 34-day and 89-day exponential moving averages (EMA), suggesting further upside is possible.
- Currently, gold is operating near resistance at 2040-2050, with immediate support at 2200-2185. A break above the $2050 resistance level will open the door for the precious metal to rally to higher levels.
- Prices are expected to test before then gold will still have to go through corrections before reaching the first profit-taking level (as the 14-day Relative Strength Index (RSI) is in the overbought zone, suggesting see that a retracement may be imminent before the next recovery begins)
Regarding international market information:
At the beginning of the trading week, world gold prices inched up slightly as the market waited for more clues about when to loosen monetary policy by the US Federal Reserve (Fed). However, gold prices unexpectedly broke out on Wednesday and conquered an all-time high on Thursday as investors sought a safe haven amid growing economic concerns and the prospect of cuts. interest rates.
Results: The world gold price is listed on the Kitco exchange at 2,233 USD/ounce. Gold futures ended the week at 2,254.8 USD/ounce.
Regarding technical analysis and prediction of gold prices in the near future:
- Gold has crossed above both the 34-day and 89-day exponential moving averages (EMA), suggesting further upside is possible.
- Currently, gold is operating near resistance at 2040-2050, with immediate support at 2200-2185. A break above the $2050 resistance level will open the door for the precious metal to rally to higher levels.
- Prices are expected to test before then gold will still have to go through corrections before reaching the first profit-taking level (as the 14-day Relative Strength Index (RSI) is in the overbought zone, suggesting see that a retracement may be imminent before the next recovery begins)
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