How was gold trading at the beginning of the week?
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The price of gold started the session with a slight increase of $5 compared to the previous trading session, reaching $2007. Currently, gold is facing resistance at $2009 per ounce.
As there have been no new supports in the market, speculation on gold positions in the US is showing signs of narrowing. Additionally, gold bars are being considered a safe haven for capital during times of economic instability and military conflicts in Palestine and Ukraine. Therefore, precious metals continue to be attractive. If the global gold price surpasses the resistance level of $2009, it will likely rise significantly to $2050 per ounce.
The price of gold started the session with a slight increase of $5 compared to the previous trading session, reaching $2007. Currently, gold is facing resistance at $2009 per ounce.
As there have been no new supports in the market, speculation on gold positions in the US is showing signs of narrowing. Additionally, gold bars are being considered a safe haven for capital during times of economic instability and military conflicts in Palestine and Ukraine. Therefore, precious metals continue to be attractive. If the global gold price surpasses the resistance level of $2009, it will likely rise significantly to $2050 per ounce.
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