The price of gold surged in the North American trading session on Thursday, setting a new all-time high of $2,233 per ounce. This climb in the precious metal's value defies the rising US Treasury yields, bolstering the US dollar, and signifies strong investor demand.
From a technical perspective, the upward journey of XAU/USD is far from over. The 4-hour chart reveals that the precious metal continues its ascent above all its moving averages (EMA 34, 89).
Key levels to watch:
Support levels: $2,200, $2,185, $2,175.
Resistance levels: $2,222, $2,235, $2,250.
From a technical perspective, the upward journey of XAU/USD is far from over. The 4-hour chart reveals that the precious metal continues its ascent above all its moving averages (EMA 34, 89).
Key levels to watch:
Support levels: $2,200, $2,185, $2,175.
Resistance levels: $2,222, $2,235, $2,250.
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