XAU/USD, H4 7 March 2024
Gold prices have surged to their all-time high levels and are currently testing the possibility of breaking above this threshold. The bullish momentum observed in gold throughout March can be attributed to the market sentiment indicating that the Federal Reserve may be considering a pivot from its current monetary policy. Simultaneously, the Bank of Japan (BoJ) is also potentially contemplating a shift in its monetary policy, raising concerns about a reduction in global liquidity. In such an environment, gold emerges as a favoured safe-haven asset for investors looking to position themselves amidst uncertainties in central bank policies.
Gold prices have risen and are attempting to break beyond their all-time highs.Suggesting that the bullish momentum remains strong.
Resistance level: 2155.00, 2170.00📉
Support level: 2140.00, 2117.90📈
Gold prices have surged to their all-time high levels and are currently testing the possibility of breaking above this threshold. The bullish momentum observed in gold throughout March can be attributed to the market sentiment indicating that the Federal Reserve may be considering a pivot from its current monetary policy. Simultaneously, the Bank of Japan (BoJ) is also potentially contemplating a shift in its monetary policy, raising concerns about a reduction in global liquidity. In such an environment, gold emerges as a favoured safe-haven asset for investors looking to position themselves amidst uncertainties in central bank policies.
Gold prices have risen and are attempting to break beyond their all-time highs.Suggesting that the bullish momentum remains strong.
Resistance level: 2155.00, 2170.00📉
Support level: 2140.00, 2117.90📈