Gold Spot / U.S. DollarUpdated Gold Surges to All-Time Highs: Outlook and Support Levels
Last week, gold experienced a powerful price surge, reaching record highs and extending to today, with a leap to $2257 USD, up approximately $24 USD in the early hours of Monday trading.
Gold is propelled by strong price momentum, benefiting from lower bond yields and a weaker USD. News of potential Fed rate cuts in the near future adds further impetus to this precious metal.
Regarding today's and this week's gold trends, the long-term outlook remains bullish. However, gold may encounter resistance and undergo minor corrections after its vigorous ascent, requiring adjustments to solidify its upward trajectory. Anticipated support levels are around $2215 - $2222 USD.
Wishing everyone a pleasant and prosperous trading week!
Gold is propelled by strong price momentum, benefiting from lower bond yields and a weaker USD. News of potential Fed rate cuts in the near future adds further impetus to this precious metal.
Regarding today's and this week's gold trends, the long-term outlook remains bullish. However, gold may encounter resistance and undergo minor corrections after its vigorous ascent, requiring adjustments to solidify its upward trajectory. Anticipated support levels are around $2215 - $2222 USD.
Wishing everyone a pleasant and prosperous trading week!
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I think gold will create a new peak and then drop sharplyNote
Note
good ideas
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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.