Gold prices are skyrocketing: will they break a new peak?
Gold prices are skyrocketing; will they hit the $2,700/ounce mark?
Hello everyone, Alisa here! How are gold prices doing this Wednesday? Let’s explore together!
Today, global gold prices continue to soar, reaching a new peak of $2,662/ounce. The continuous rise of this precious metal is driven by expectations that central banks will continue cutting interest rates, along with escalating geopolitical tensions in the Middle East.
Looking at the chart, the price remains in an upward channel. With support at $2,555 and the EMA 34 and 89 lines holding steady, this further strengthens the bullish trend for gold.
I believe gold could surpass $2,700/ounce as early as the end of this week, if tensions in the Middle East continue to escalate and more news about interest rate cuts emerges. Do you agree with me?
Hello everyone, Alisa here! How are gold prices doing this Wednesday? Let’s explore together!
Today, global gold prices continue to soar, reaching a new peak of $2,662/ounce. The continuous rise of this precious metal is driven by expectations that central banks will continue cutting interest rates, along with escalating geopolitical tensions in the Middle East.
Looking at the chart, the price remains in an upward channel. With support at $2,555 and the EMA 34 and 89 lines holding steady, this further strengthens the bullish trend for gold.
I believe gold could surpass $2,700/ounce as early as the end of this week, if tensions in the Middle East continue to escalate and more news about interest rate cuts emerges. Do you agree with me?
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