Gold price on the first day of the new week
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Hi everybody! It's great to start the new week with this conversation with you all!
Let's look back a bit at gold last week, it really impressed me. Gold glided sideways near 2030 USD and then suddenly "danced" to 2061 USD on Friday, before turning around to correct. Now, what makes me excited is the fact that gold is currently at 2050 - 2051 USD entering the new week.
Interestingly, gold's rally was fueled by weakness in US Producer Price Index (PPI) data and geopolitical tensions in the Middle East. Like a skilled dancer, gold escaped the bearish 'dance', returned to test the Breakout area and danced with the two EMAs.
This makes me feel quite optimistic that gold will not stop here. It appears to be heading towards a new high - $2088. How about you? Do you think gold will continue to rise, or will it turn downward this week? Please share your thoughts!
Let's look back a bit at gold last week, it really impressed me. Gold glided sideways near 2030 USD and then suddenly "danced" to 2061 USD on Friday, before turning around to correct. Now, what makes me excited is the fact that gold is currently at 2050 - 2051 USD entering the new week.
Interestingly, gold's rally was fueled by weakness in US Producer Price Index (PPI) data and geopolitical tensions in the Middle East. Like a skilled dancer, gold escaped the bearish 'dance', returned to test the Breakout area and danced with the two EMAs.
This makes me feel quite optimistic that gold will not stop here. It appears to be heading towards a new high - $2088. How about you? Do you think gold will continue to rise, or will it turn downward this week? Please share your thoughts!
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