Fundamentally and technically bulls continue to grow at $2,355
Hello all dear friends!
Overall, gold experienced a significant price increase yesterday surpassing the $2,355 level. It is currently trading at a new high of $2,388 at the time of writing, experiencing significant gains of tens of dollars on the day.
Do you wonder why gold increased so strongly?
Regarding international market information:
In the context of rising inflation in the US, the fact that the Federal Reserve (Fed) can postpone monetary policy adjustments increases the stability and appeal of gold. Despite the potential negative impact from US economic data, gold maintains its strength. At the same time, despite the strengthening US dollar and rising bond yields, gold prices have not declined, reflecting its sustainability as a safe-haven asset.
Geopolitical tensions in the Middle East also play an important role in maintaining demand for gold as a safe haven during difficult times.
Conclusion: Gold remains an attractive and reliable investment option in the current context, thanks to its stability and resistance to economic and geopolitical fluctuations. This, coupled with optimism about its ability to maintain its price, especially in an environment of inflation and geopolitical instability, makes gold continue to be viewed as a safe haven asset, attracting interest. investors' minds.
On the new outlook for XAUUSD: From the 4-hour chart, XAUUSD is currently receiving strong support around the $2355 breakout level. A break below this level will result in a significant price decline, while a sustainment will result in an increase in price. It is expected that the price will recover after testing the bullish channel limit and retesting the EMA 34.89 levels.
Overall, gold experienced a significant price increase yesterday surpassing the $2,355 level. It is currently trading at a new high of $2,388 at the time of writing, experiencing significant gains of tens of dollars on the day.
Do you wonder why gold increased so strongly?
Regarding international market information:
In the context of rising inflation in the US, the fact that the Federal Reserve (Fed) can postpone monetary policy adjustments increases the stability and appeal of gold. Despite the potential negative impact from US economic data, gold maintains its strength. At the same time, despite the strengthening US dollar and rising bond yields, gold prices have not declined, reflecting its sustainability as a safe-haven asset.
Geopolitical tensions in the Middle East also play an important role in maintaining demand for gold as a safe haven during difficult times.
Conclusion: Gold remains an attractive and reliable investment option in the current context, thanks to its stability and resistance to economic and geopolitical fluctuations. This, coupled with optimism about its ability to maintain its price, especially in an environment of inflation and geopolitical instability, makes gold continue to be viewed as a safe haven asset, attracting interest. investors' minds.
On the new outlook for XAUUSD: From the 4-hour chart, XAUUSD is currently receiving strong support around the $2355 breakout level. A break below this level will result in a significant price decline, while a sustainment will result in an increase in price. It is expected that the price will recover after testing the bullish channel limit and retesting the EMA 34.89 levels.
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