Hello dear friends!
Today marks the beginning of the first trading session of 2024, and gold continues to show strong performance as it steadily increases by nearly $13 throughout the day.
Accordingly, the moderate expectations of the Fed and ongoing geopolitical risks continue to support XAU/USD. Based on observations from the chart, the resistance level of the upward trend line is currently at $2,088. This will be a challenging factor for the price of Gold to break through in its new upward trend.
A close above the aforementioned level on the daily candle basis will challenge the $2,100 barrier. The next target for Gold buyers is imagined to be the all-time high of $2,144 if the upward trend is sustained.
What do you think? Do you believe that gold will increase or decrease in the coming period?
Today marks the beginning of the first trading session of 2024, and gold continues to show strong performance as it steadily increases by nearly $13 throughout the day.
Accordingly, the moderate expectations of the Fed and ongoing geopolitical risks continue to support XAU/USD. Based on observations from the chart, the resistance level of the upward trend line is currently at $2,088. This will be a challenging factor for the price of Gold to break through in its new upward trend.
A close above the aforementioned level on the daily candle basis will challenge the $2,100 barrier. The next target for Gold buyers is imagined to be the all-time high of $2,144 if the upward trend is sustained.
What do you think? Do you believe that gold will increase or decrease in the coming period?
