Gold Analysis October 16: War risk sentiment supports Gold price
- Fundamental analysis:
Gold had the most exciting trading session of 2023 when it increased from 1868 to 1932. The war between Israel and Hamas suddenly escalated when the Israeli government warned more than 1 million in northern Gaza to evacuate the area. Haven products such as Gold are supported to increase
Israel's announcement that it will completely destroy Hamas shows that this war may be long. This was a disastrous war, not only attacking military bases but also attacking civilians
There is no important economic news announced today. The market will continue to monitor the developments in the Israel-Hamas war.
- Technical analysis:
Gold has increased by $100 in the last week since last Monday's GAP creation. Gold's upward momentum still shows no signs of weakening, the target could be 1950
Buy Gold 1910 - 1908 SL - 1900 TP - 1923
Good luck!
- Fundamental analysis:
Gold had the most exciting trading session of 2023 when it increased from 1868 to 1932. The war between Israel and Hamas suddenly escalated when the Israeli government warned more than 1 million in northern Gaza to evacuate the area. Haven products such as Gold are supported to increase
Israel's announcement that it will completely destroy Hamas shows that this war may be long. This was a disastrous war, not only attacking military bases but also attacking civilians
There is no important economic news announced today. The market will continue to monitor the developments in the Israel-Hamas war.
- Technical analysis:
Gold has increased by $100 in the last week since last Monday's GAP creation. Gold's upward momentum still shows no signs of weakening, the target could be 1950
Buy Gold 1910 - 1908 SL - 1900 TP - 1923
Good luck!
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