Will gold prices fall back?
Updated
Hello dear friends!
At the end of yesterday's trading session, the price of gold experienced a slight decrease, ending the impressive rise to nearly $2,000 per ounce during the previous week, as tensions in the Middle East continue to escalate without signs of easing.
In the context of ongoing political tensions, it is difficult to envision gold decreasing without some resolution to the situation in the Middle East. However, the $2,000 per ounce level holds significant psychological importance and for short-term traders, gold is expected to experience a slight decline before resuming its upward trajectory. Karina anticipates that gold may find initial support around $1,950 per ounce, followed by $1,920 per ounce.
So what are your thoughts on the next trend for gold?
At the end of yesterday's trading session, the price of gold experienced a slight decrease, ending the impressive rise to nearly $2,000 per ounce during the previous week, as tensions in the Middle East continue to escalate without signs of easing.
In the context of ongoing political tensions, it is difficult to envision gold decreasing without some resolution to the situation in the Middle East. However, the $2,000 per ounce level holds significant psychological importance and for short-term traders, gold is expected to experience a slight decline before resuming its upward trajectory. Karina anticipates that gold may find initial support around $1,950 per ounce, followed by $1,920 per ounce.
So what are your thoughts on the next trend for gold?
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Note
Gold decreases as expected, touching support as on the analytical chartNote
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