Gold is fluctuating around 1925 and could fall next week

Sep 8, 2023

XAUUSD The price of gold has caught the attention of buyers for the second day in a row, as it benefits from a combination of factors.

Concerns about a potential global economic decline and worsening relations between the US and China are driving investors towards the safe-haven metal.

Additionally, profit-taking on the US Dollar is being prompted by falling US bond yields, which further supports this positive trend.

Amidst worries over the deteriorating economic situation in China, Japan's second-quarter GDP growth downgrade adds to concerns about a more severe global downturn.

Sep 13, 2023

Comment

The price of gold is fluctuating above the support level of $1,900.00 while investors are waiting for inflation data.

The trading range for gold remains within the range from the previous day, indicating a decrease in volatility. The 200-day Exponential Moving Average (EMA) at around $1,910.00 is providing support for the yellow metal, but it is being hindered by the 20-day EMA at approximately $1,921.00. Investors are cautious and staying on the sidelines due to these factors affecting gold's price movement.