According to the previous analysis and the trend line that I drew, the price of gold, with good relative control, is going down the trend line.
Note that in the coming weeks we will have good news from the increase in US financial indicators, and also due to rising inflation, the Federal Reserve tends to raise bank interest rates.
On the other hand, the saturation volume of capital in the market is very high and the market tends to correct the price of at least $ 60.
If the Federal Reserve has a contractionary monetary policy on tapering and raising bank interest rates, gold will face a $ 200- $ 300 correction.
In the previous ceiling of 2021, which happened in 1916, it took 14 days in daily time frame to fall.
If gold wants to operate on the same behavior now, it must fluctuate at the same level for 14 days.
Good luck . . .
Note that in the coming weeks we will have good news from the increase in US financial indicators, and also due to rising inflation, the Federal Reserve tends to raise bank interest rates.
On the other hand, the saturation volume of capital in the market is very high and the market tends to correct the price of at least $ 60.
If the Federal Reserve has a contractionary monetary policy on tapering and raising bank interest rates, gold will face a $ 200- $ 300 correction.
In the previous ceiling of 2021, which happened in 1916, it took 14 days in daily time frame to fall.
If gold wants to operate on the same behavior now, it must fluctuate at the same level for 14 days.
Good luck . . .