Gold continues to be limited, need new motivation!

In the trading landscape of Tuesday in North America, gold witnessed a modest uptick, yet remained confined within a narrow range, reflecting a certain cautious sentiment in the market. The primary catalyst behind this growth was a slight decrease in the yield of U.S. Treasury bonds, casting a dim light on the U.S. Dollar. This is evidenced by the U.S. Dollar Index (DXY), which measures the strength of the USD against a basket of other currencies, experiencing a minor decline of 0.05%.

Through the lens of chart analysis, gold appears to be maintaining a sideways trend, as XAU/USD has been unable to breach the significant resistance level at $2,035 over the past 12 days. However, the beacon of hope is still lit, with the upward trend remaining intact. Once buyers successfully reclaim this price level, we could anticipate a new challenge towards the psychological figure of $2,050, opening up new opportunities on the gold investment map.

Bình luận: