What changes in gold price today?
Dear traders!
Today, world gold price closed at 2,334 USD/ounce, up 9 USD compared to the lowest price in last night's trading session of 2,325 USD/ounce. The precious metals recovery is underpinned by a pick-up in US manufacturing activity.
Meanwhile, a recent poll by the University of Michigan (USA) shows that consumers have mixed expectations about the inflation trend. This causes US bond interest rates to go down, motivating investors to sell bonds and shift capital to precious metals. In the short term, Gold prices continue to have upward momentum, however it will be difficult to last long as the trend line remains intact due to previous profit-taking pressure above the $2450 level and the breakout below support. Potential 2400 USD. It is expected that the price will bounce back to test the 2365 to 2370 liquidity level and retest the 34.89 EMA and down channel resistance before any further downward momentum follows a pattern. The price is being considered by me on the chart. What do you guys think about the next trend of gold?
Today, world gold price closed at 2,334 USD/ounce, up 9 USD compared to the lowest price in last night's trading session of 2,325 USD/ounce. The precious metals recovery is underpinned by a pick-up in US manufacturing activity.
Meanwhile, a recent poll by the University of Michigan (USA) shows that consumers have mixed expectations about the inflation trend. This causes US bond interest rates to go down, motivating investors to sell bonds and shift capital to precious metals. In the short term, Gold prices continue to have upward momentum, however it will be difficult to last long as the trend line remains intact due to previous profit-taking pressure above the $2450 level and the breakout below support. Potential 2400 USD. It is expected that the price will bounce back to test the 2365 to 2370 liquidity level and retest the 34.89 EMA and down channel resistance before any further downward momentum follows a pattern. The price is being considered by me on the chart. What do you guys think about the next trend of gold?
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