Gold price today: The momentum of "downward" is not slowing down
Updated
Hello everyone, let's find out how the price of gold fared last week and strategize for the upcoming week!
Last week marked a significant moment for gold as it reached an all-time high of nearly $2222 USD. Market news, particularly rumors of the Federal Reserve cutting interest rates this year, played a crucial psychological role for investors, leading to continuous manipulation and volatility in the price of gold.
Currently, the $2222 USD peak is not sustained, and the strong recovery of the US Dollar on the last trading day has exerted considerable pressure on gold. Despite a 0.7% decline in the day, gold still slightly increased compared to the previous week's closing price, stabilizing at around $2165 USD.
Looking ahead: The prospects for the next week indicate that the price of gold may experience further adjustments. The immediate short-term target is to retest the EMA 89 line (support area around $2148 USD). If this support level is broken, we are likely to lean towards selling, with a high possibility that gold will touch the 212x level next week!
What are your thoughts on the future price movement of gold?
Last week marked a significant moment for gold as it reached an all-time high of nearly $2222 USD. Market news, particularly rumors of the Federal Reserve cutting interest rates this year, played a crucial psychological role for investors, leading to continuous manipulation and volatility in the price of gold.
Currently, the $2222 USD peak is not sustained, and the strong recovery of the US Dollar on the last trading day has exerted considerable pressure on gold. Despite a 0.7% decline in the day, gold still slightly increased compared to the previous week's closing price, stabilizing at around $2165 USD.
Looking ahead: The prospects for the next week indicate that the price of gold may experience further adjustments. The immediate short-term target is to retest the EMA 89 line (support area around $2148 USD). If this support level is broken, we are likely to lean towards selling, with a high possibility that gold will touch the 212x level next week!
What are your thoughts on the future price movement of gold?
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