Gold: The Fever Shows No Signs of Cooling Down
Hello everyone, it's Alisa again. Will gold go up or down today? Let’s analyze it together with Alisa!
Despite facing strong profit-taking pressure, gold prices have remained at an all-time high. This suggests that investors are still optimistic about the possibility of further rate cuts by the U.S. Federal Reserve in the near future, especially after the latest inflation data was released.
Looking at the technical chart, the trend is still upward, and the 34 and 89 EMAs are running steadily with no signs of reversal. With support at 2,626, this precious metal continues to rise, targeting the 2,688 mark.
Alisa thinks this precious metal will soon break its record high and aim for 2,700. What do you think about gold’s movement today?
Despite facing strong profit-taking pressure, gold prices have remained at an all-time high. This suggests that investors are still optimistic about the possibility of further rate cuts by the U.S. Federal Reserve in the near future, especially after the latest inflation data was released.
Looking at the technical chart, the trend is still upward, and the 34 and 89 EMAs are running steadily with no signs of reversal. With support at 2,626, this precious metal continues to rise, targeting the 2,688 mark.
Alisa thinks this precious metal will soon break its record high and aim for 2,700. What do you think about gold’s movement today?
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