Dear friends, Crude oil prices are forecasted to potentially increase to $150 per barrel. Global inflation is likely to rise to 6.7% in 2024.
Instability can quickly push up the price of gold. However, in the short term, gold is facing pressure from a strengthening US dollar.
At the time of writing, Gold is trading below the $2000 mark, currently trading around $1991. It is expected that Gold will rise to $2000 in the near future due to the stability of the trend on the 1-hour timeframe. The short-term target for investors selling gold would be the support level at $1985, after which the upward trend will continue. What about you? Do you agree with me?