Update gold price at the beginning of the new week
Updated
Dear friend, In general, precious metals truly impress us. Gold traded sideways near $2030 before rising to $2061 on Friday, then retraced to $2049 and stabilized at this level. Now, what excites me is that gold is currently trading calmly around $2050 - $2051 as we enter the new week.
The interesting thing is that gold's recovery is driven by weakness in the US Producer Price Index (PPI) data and political tensions in the Middle East. Like a skilled dancer, gold breaks free from the downward "dance", returns to test the Breakout zone, and dances with the two EMA lines.
For these reasons, gold makes me quite optimistic that it will not stop here. It seems to be heading towards a new high - $2088. What about you?
The interesting thing is that gold's recovery is driven by weakness in the US Producer Price Index (PPI) data and political tensions in the Middle East. Like a skilled dancer, gold breaks free from the downward "dance", returns to test the Breakout zone, and dances with the two EMA lines.
For these reasons, gold makes me quite optimistic that it will not stop here. It seems to be heading towards a new high - $2088. What about you?
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