Nice to meet you all again! Today, Gold shows clear signs of recovery as the price reaches a high of $1851 with little change from this morning.
On the 4-hour timeframe, Gold appears to be cooling down as it seems uncertain about the prospects of further price increase. But don't worry, the possibility of Gold surpassing this level is only a matter of time, as the USD has reached its peak and is likely to retreat, thus supporting this precious metal.
This week, there is news about the USD on Wednesday and Thursday, so it is possible that after Gold rises to the indicated level, there will be another pullback before the direction of Gold becomes clear.
On the 4-hour timeframe, Gold appears to be cooling down as it seems uncertain about the prospects of further price increase. But don't worry, the possibility of Gold surpassing this level is only a matter of time, as the USD has reached its peak and is likely to retreat, thus supporting this precious metal.
This week, there is news about the USD on Wednesday and Thursday, so it is possible that after Gold rises to the indicated level, there will be another pullback before the direction of Gold becomes clear.
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Energy stocks on the US stock market also increased in the October 9 session. The index tracking this group - S&P 500 Energy - rose 3.5%. USD price yesterday increased 3% compared to the Israeli shekel.
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Related publications
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.