The price of gold is hovering around the $2,300 mark. The reduction in geopolitical tensions, coupled with an increase in USD purchases, has influenced the volatility of gold prices.
From a technical perspective, although there are signs of adjustment in gold prices, the Simple Moving Average (SMA) 20 is pointing downwards, indicating a potential slight increase in prices in the near future. However, advancing towards higher price levels is still being constrained by the SMA 100, which serves as a strong support level in determining the long-term market trend.
From a technical perspective, although there are signs of adjustment in gold prices, the Simple Moving Average (SMA) 20 is pointing downwards, indicating a potential slight increase in prices in the near future. However, advancing towards higher price levels is still being constrained by the SMA 100, which serves as a strong support level in determining the long-term market trend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.