The gold price (XAUUSD) benefited from the US Federal Reserve meeting last Wednesday. Already in the late evening of the meeting itself, the precious metal screwed above the USD 1,800 mark to attack the resistance zone around USD 1,830, especially during trading on Thursday. Statistically, Friday is a bullish weekday and the seasonality for the upcoming trading month of August also promises a friendly development. Should gold therefore establish itself above USD 1,830, further gains up to USD 1,848 and beyond that up to the high point of the beginning of June at around USD 1,915 appear possible.
However, a further decline below USD 1,800 should be avoided. In this case, there is a risk that gold will permanently give up the USD 1,795 zone. As a consequence, further losses of up to USD 1,780 and below that of at least USD 1,750 would have to be taken into account.
Note:
Despite careful analysis, Global Investa accepts no liability for the content, topicality, correctness or completeness of the information provided. The information provided does not constitute investment advice, purchase recommendations or investment brokerage.
However, a further decline below USD 1,800 should be avoided. In this case, there is a risk that gold will permanently give up the USD 1,795 zone. As a consequence, further losses of up to USD 1,780 and below that of at least USD 1,750 would have to be taken into account.
Note:
Despite careful analysis, Global Investa accepts no liability for the content, topicality, correctness or completeness of the information provided. The information provided does not constitute investment advice, purchase recommendations or investment brokerage.