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GOLD slightly decreased at the beginning of the trading session
World gold prices decreased slightly at the beginning of the trading session on October 23 due to the highest price pressure in more than 3 months, making investors mentally prepare to buy at any time when gold prices begin to fall deeply. .
If the conflict in the Middle East escalates, gold will move higher. On the contrary, if the situation shows signs of calming down, gold will decrease. However, still leaning towards an increase scenario this week.
We see that gold prices will increase more in the near future because gold continues to be a safe haven from developments in the Middle East. The gold market is reacting correctly to new developments in the conflict.
However, gold prices will be difficult to predict from now until the end of the week. The precious metal can quickly soar to 2,000 USD/ounce and then fall to 1,950 USD/ounce due to investors' profit-taking mentality. Gold has increased so quickly in the past 2 weeks. Therefore, a profit-taking phase may be triggered this week.
If the conflict in the Middle East escalates, gold will move higher. On the contrary, if the situation shows signs of calming down, gold will decrease. However, still leaning towards an increase scenario this week.
We see that gold prices will increase more in the near future because gold continues to be a safe haven from developments in the Middle East. The gold market is reacting correctly to new developments in the conflict.
However, gold prices will be difficult to predict from now until the end of the week. The precious metal can quickly soar to 2,000 USD/ounce and then fall to 1,950 USD/ounce due to investors' profit-taking mentality. Gold has increased so quickly in the past 2 weeks. Therefore, a profit-taking phase may be triggered this week.
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