After surpassing the 2.300 threshold, the price of gold experienced a slight decline, but during the Friday trading session in the United States, the market witnessed a brief downturn. Subsequently, gold prices rebounded and continued to surge strongly, surpassing the 2.330 mark to establish a new peak.
Despite positive indications of growth in the US Dollar (USD) continuing in the market, gold prices are still supported by political tensions in the Middle East region.
From a technical standpoint, indicators such as the Simple Moving Average (SMA) and the Relative Strength Index (RSI) indicate that the upward trend is still being maintained. The SMA 20 is on a steep upward trajectory, with no clear signs of decline. Additionally, the Relative Strength Index (RSI) hovering around the 80 level indicates that the price surge is still robust. However, the RSI is currently in overbought territory, signaling that the market may undergo a period of price adjustment and transition into a downtrend phase.
Despite positive indications of growth in the US Dollar (USD) continuing in the market, gold prices are still supported by political tensions in the Middle East region.
From a technical standpoint, indicators such as the Simple Moving Average (SMA) and the Relative Strength Index (RSI) indicate that the upward trend is still being maintained. The SMA 20 is on a steep upward trajectory, with no clear signs of decline. Additionally, the Relative Strength Index (RSI) hovering around the 80 level indicates that the price surge is still robust. However, the RSI is currently in overbought territory, signaling that the market may undergo a period of price adjustment and transition into a downtrend phase.
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