Gold price movements today and forecasts for the coming time
Hello everyone! Currently, the price of gold is trading more steadily on Friday due to supportive policy measures and strong business activity data from China, which have boosted market sentiment and dampened the safe-haven demand for the US dollar, limiting its recent price increases.
Furthermore, the sluggish sentiment surrounding US Treasury bond yields is also providing additional support for gold prices without generating profits.
The strong resistance level at $1,920 is holding firm, and gold prices may retreat to the $1,900 level.
Gold sellers need to break this in order to initiate a new downward trend towards the static support level at $1,885.
The 14-day Relative Strength Index (RSI) indicator is increasing but still below 50. This indicates that any upward price movements may only be short-lived.
Furthermore, the sluggish sentiment surrounding US Treasury bond yields is also providing additional support for gold prices without generating profits.
The strong resistance level at $1,920 is holding firm, and gold prices may retreat to the $1,900 level.
Gold sellers need to break this in order to initiate a new downward trend towards the static support level at $1,885.
The 14-day Relative Strength Index (RSI) indicator is increasing but still below 50. This indicates that any upward price movements may only be short-lived.
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good luck
Bình luận:
Weak economic growth prospects in Europe coupled with a decline in confidence in the Chinese economy are creating conditions for the USD to appreciate and limiting the investment appeal of gold.
