In recent months, central banks have played a significant role in supporting the value of gold. Their interest in purchasing the precious metal has hit record levels, and this has been a major factor in keeping gold prices stable. Despite this, the US Federal Reserve remains the key player in the gold market, and many believe that the price of gold will rise once the current monetary tightening cycle comes to an end.
Looking at the H4 time frame, it's clear that gold is currently moving sideways within a range of 1938-1980. If the price falls below the support level of 1938, it's likely that it will continue to drop to around 1900 or even lower. On the other hand, if it breaks past the resistance level of 1980, the price of gold is expected to surge above $2,000.
Looking at the H4 time frame, it's clear that gold is currently moving sideways within a range of 1938-1980. If the price falls below the support level of 1938, it's likely that it will continue to drop to around 1900 or even lower. On the other hand, if it breaks past the resistance level of 1980, the price of gold is expected to surge above $2,000.
Comment:
Gold is looking to rise again from the $ 1955 - $ 1950 mark. Back to 1980$ in the near future
Comment:
GOLD now 1962
Comment:
This strategy still applies to GOLD today
