XAU / USD quotes continue to move as part of the rise and the bullish channel. At the time of the publication of the forecast, the price of GOLD is 1796 Dollars per Troy Oz. Moving averages indicate a short-term bullish trend. Prices broke through the area between the signal lines upward, which indicates pressure from the sellers of the asset and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to develop a decline and test the support level near the 1770 area. Where can we expect a rebound and a continued rise in the price of GOLD with a potential target above the level of 1845.
Watch out for any potential future rapid fall of Gold on value, as they have found new geological extensions of their mine’s gold reservers in Congo’s Kibali a new with gold reserves somewhere until 2040 extending this mine’s originally expected lifeline. Always keep watching for any newly granted mining permits!!!