Current Pattern: Triangle Formation Gold is currently exhibiting a triangle pattern, which typically indicates a potential breakout. The triangle pattern is characterized by converging trendlines, with the price making lower highs and higher lows, creating a narrowing range. Breakout Direction: Downward The analysis suggests a probable downward breakout from...
News Impact on Gold Prices Gold prices are significantly influenced by global geopolitical events, which create uncertainty and drive demand for safe-haven assets. Recently, several key events have impacted the price of gold: Ukraine Conflict: The ongoing war in Ukraine has created substantial geopolitical tension, leading investors to seek refuge in gold....