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Gold 2nd price target reached!

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Short analysis on gold

The gold price ( XAU/USD ) has reached the targeted and deposited 2nd price target.
As expected, the first signs of exhaustion occurred in this area, which justified a profit-taking in line with the market (as previously communicated).

For further rising prices, a decline to USD 1,795 and 1,788 must be factored in from a statistical point of view.
If the gold price can hold above the aforementioned marks, a continuation of the upward movement to the USD 1,825 range (for the time being) is likely.

However, one should not act too euphorically and too hastily, as the cyclical high is approaching soon and it will then become increasingly questionable on the long side.


Notice:
Despite careful analysis, Global Investa does not guarantee the content, timeliness, accuracy or completeness of the information provided. In particular, the information provided does not constitute investment advice, a recommendation to buy or investment brokerage and can in no way replace investor and investment advice from a professional investment advisor who takes into account the individual economic circumstances and the level of experience of the customer.
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