Dear readers, in the short term, our priority remains to sell due to the current price adjustment phase, with trading hovering around $2035. However, when considering the long term, the analysis of the 1D chart supports a strong upward trend for gold, with a clear support level at $2017. Another favorable factor for gold is that the trend line has not been broken yet.
These two factors, along with market sentiment resulting from interest rate cuts this year, will be the main drivers for investors to push prices back to the resistance level of $2088 and achieve a new all-time high.
These two factors, along with market sentiment resulting from interest rate cuts this year, will be the main drivers for investors to push prices back to the resistance level of $2088 and achieve a new all-time high.
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