Hot market for gold sellers
Dear friends, Crude oil prices are forecasted to potentially increase to $150 per barrel. Global inflation is likely to rise to 6.7% in 2024.
Instability can quickly push up the price of gold. However, in the short term, gold is facing pressure from a strengthening US dollar.
At the time of writing, Gold is trading below the $2000 mark, currently trading around $1991. It is expected that Gold will rise to $2000 in the near future due to the stability of the trend on the 1-hour timeframe. The short-term target for investors selling gold would be the support level at $1985, after which the upward trend will continue. What about you? Do you agree with me?
Instability can quickly push up the price of gold. However, in the short term, gold is facing pressure from a strengthening US dollar.
At the time of writing, Gold is trading below the $2000 mark, currently trading around $1991. It is expected that Gold will rise to $2000 in the near future due to the stability of the trend on the 1-hour timeframe. The short-term target for investors selling gold would be the support level at $1985, after which the upward trend will continue. What about you? Do you agree with me?
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Trade closed: target reached
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.