Analyzing Gold's Trend In the Upcoming Period
Gold prices are showing signs of reversal after hitting an all-time high above the $2,350 barrier during European trading on Monday. The decrease in bets on a Fed interest rate cut in June and reduced geopolitical tensions have limited gold's upward momentum, despite increased central bank gold purchases.
Looking at the H4 chart,, if gold undergoes a correction back to around $2,331 before continuing its upward trend, it could indicate that the strong uptrend will continue.
If gold buyers successfully challenge the correction pressure, there's a possibility of a new recovery towards the psychological level of $2,370, if accepted above the $2,350.
Looking at the H4 chart,, if gold undergoes a correction back to around $2,331 before continuing its upward trend, it could indicate that the strong uptrend will continue.
If gold buyers successfully challenge the correction pressure, there's a possibility of a new recovery towards the psychological level of $2,370, if accepted above the $2,350.
