Gold holds a good opportunity to increase in price
Hello, Karina's friends!
Today, gold continues to maintain a strong upward trend and is currently trading around $1986, up 0.37% for the day.
It can be seen that the data released last week has sparked hope that the Fed may start easing monetary conditions earlier than expected, as the job market slows down and inflation shows signs of cooling off. Lower interest rates are putting downward pressure on the value of the USD and bond yields, increasing the attractiveness of gold and causing the precious metal to quickly recover from its decline to $1933.
On the analysis chart: A candlestick pattern (cup and handle) is forming, and the immediate target could be a high of $2010 with support at $1970. Karina's goal is to increase prices, what about you?
Today, gold continues to maintain a strong upward trend and is currently trading around $1986, up 0.37% for the day.
It can be seen that the data released last week has sparked hope that the Fed may start easing monetary conditions earlier than expected, as the job market slows down and inflation shows signs of cooling off. Lower interest rates are putting downward pressure on the value of the USD and bond yields, increasing the attractiveness of gold and causing the precious metal to quickly recover from its decline to $1933.
On the analysis chart: A candlestick pattern (cup and handle) is forming, and the immediate target could be a high of $2010 with support at $1970. Karina's goal is to increase prices, what about you?
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