Gold Hits New High, Prepares for Further Journey
Gold reached a new peak on October 22 due to safe-haven demand driven by uncertainty in the U.S. presidential election and the conflict in the Middle East, along with expectations of upcoming monetary easing policies.
Technical analysis of XAUUSD on October 23 reveals that gold may need to pause at the 2,730 USD support level before continuing its climb. It’s likely that gold will push toward 2,754 USD. The EMA 34 and EMA 89 are crucial support levels, while RSI at 51 indicates a neutral market.
Technical analysis of XAUUSD on October 23 reveals that gold may need to pause at the 2,730 USD support level before continuing its climb. It’s likely that gold will push toward 2,754 USD. The EMA 34 and EMA 89 are crucial support levels, while RSI at 51 indicates a neutral market.
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