Hello dear friends, Today, the price of gold is at its highest level in two weeks, reaching nearly $1,880. Gold is trading more firmly thanks to the decrease in the yield of US Treasury bonds due to the latest meeting minutes from the Federal Reserve yesterday.
From a technical analysis perspective, when the Bollinger Band range narrowed around the 1820 mark last Friday, it transitioned into an expanding trend with gold's continuous price increase equivalent to nearly $65.
In my personal opinion, gold will rise to $1,800 today and then experience a slight decrease to around $1,845 - $1,847 before the upward trend continues.
From a technical analysis perspective, when the Bollinger Band range narrowed around the 1820 mark last Friday, it transitioned into an expanding trend with gold's continuous price increase equivalent to nearly $65.
In my personal opinion, gold will rise to $1,800 today and then experience a slight decrease to around $1,845 - $1,847 before the upward trend continues.
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. Higher bond yields are expected to slow down the pace of spending and investment. At this point of time, when inflation is consistently falling and Middle East tensions are deepening, risks of under-tightening would be lower than the consequences of tightening too much.
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Trade closed: target reached
