Geopolitical tensions in the Middle East will continue to fuel gold buyers, even though the RSI remains heavily overbought.
The price of gold has remained resilient in the face of
- FMOC
- CPI
- PPI
The 3 big announcements which should bring bearish volume to eventually resume the downtrend, given that we have an eco strong side us...
Inflation data kept the US dollar supported alongside US Treasury yields.
From a broader perspective, the gold price remains supported by the surge in gold purchases by global central banks, including Turkey, Kazakhstan and China.
Technically, I see
a short-term retracement targeting the 30%, deeper 61.8 before running back up to the weak high 2395.44.
The rise could be called into question if we break 2318, which is the new strong low just created.
2345 also remains a good rebound zone, as the price has reacted very well in this area over the past 2 days.
The price of gold has remained resilient in the face of
- FMOC
- CPI
- PPI
The 3 big announcements which should bring bearish volume to eventually resume the downtrend, given that we have an eco strong side us...
Inflation data kept the US dollar supported alongside US Treasury yields.
From a broader perspective, the gold price remains supported by the surge in gold purchases by global central banks, including Turkey, Kazakhstan and China.
Technically, I see
a short-term retracement targeting the 30%, deeper 61.8 before running back up to the weak high 2395.44.
The rise could be called into question if we break 2318, which is the new strong low just created.
2345 also remains a good rebound zone, as the price has reacted very well in this area over the past 2 days.