Recently, the price of gold has received substantial support based on two main factors. First, the anticipated reduction of interest rates by the Federal Reserve would weaken the US dollar. The second factor is the ongoing global tensions, which threaten to escalate into a major conflict. These factors could spark a renewed rise in the price of the "yellow" metal, pushing it first to the recent high of 3672.42, and then to a new all-time level at 3682.00.
From a technical perspective, the pair is testing the resistance level at 3644.00; breaking above this level could provide grounds for further price growth.
The price is above the middle line of the Bollinger Bands, and above both the 5-period and 14-period SMA. The RSI is rising, having reversed from below the overbought zone. The Stochastic indicator is turning up above the oversold zone.
Gold prices may rise to 3682.00 if the Fed decides to cut interest rates by 0.50%. The level of 3648.40 may serve as a buying entry point.
ForexMart is authorized and regulated in various jurisdictions.
(Reg No.23071, IBC 2015) with a registered office at First Floor, SVG Teachers Co-operative Credit Union Limited Uptown Building, Corner of James and Middle Street, Kingstown, Saint Vincent and the Grenadines
Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.
আমাদের সাথে যোগাযোগ করুন 
