Gold Hits 2,570 USD Peak, Support at 2,521 USD
Gold is currently trading around its all-time high near 2,570 USD after a strong rally fueled by rising expectations of a significant Fed rate cut.
The 34 and 89 EMA lines show that the upward trend is still intact, though a short-term correction is possible.
Key support levels lie at 2,501 USD and 2,521 USD, where investors may find buying opportunities.
Gold could rise to the 1.618 level, where it will face psychological resistance before continuing upward towards the next target at 2.618.
The 34 and 89 EMA lines show that the upward trend is still intact, though a short-term correction is possible.
Key support levels lie at 2,501 USD and 2,521 USD, where investors may find buying opportunities.
Gold could rise to the 1.618 level, where it will face psychological resistance before continuing upward towards the next target at 2.618.
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