Gold price is falling, target 2000 USD is difficult to target
Dear friends, Gold is entering a phase of decline as the upward momentum weakens and the $2000 threshold remains unattainable. Trading is currently experiencing a slight decrease on the 1-hour timeframe, reaching a trading level of $1973.
The inability of gold to recover this week signals a weakening of "safe haven demand," suggesting that the market is learning to live with the tensions in the Middle East. Additionally, the strengthening of the US dollar has made gold more expensive for foreign buyers, significantly reducing purchasing power.
Although a price increase occurred, it was immediately rejected at the resistance level. The target for this downward trend is set at $1960 and $1950, indicating a continuation of the price decline.
The inability of gold to recover this week signals a weakening of "safe haven demand," suggesting that the market is learning to live with the tensions in the Middle East. Additionally, the strengthening of the US dollar has made gold more expensive for foreign buyers, significantly reducing purchasing power.
Although a price increase occurred, it was immediately rejected at the resistance level. The target for this downward trend is set at $1960 and $1950, indicating a continuation of the price decline.
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