💡XAUUSD: Ability to recover after a slight decline
Updated
💡At the end of yesterday's trading session, the price of gold experienced a slight decrease, putting an end to the impressive surge that took it close to $2,000 per ounce in the previous week, while the ongoing tensions in the Middle East show no signs of abating.
💡According to David Meger, the Director of Metal Trading at High Ridge Futures, the demand for safe-haven assets may continue to push gold prices higher after a brief period of decline. He expressed the belief that political instability and unrest in the Middle East will likely keep driving gold prices upwards.
💡 Meger also added, "If inflation data exceeds expectations, it could raise concerns about interest rate hikes, which may subsequently lead to an increase in the demand for safe-haven assets."
💡According to David Meger, the Director of Metal Trading at High Ridge Futures, the demand for safe-haven assets may continue to push gold prices higher after a brief period of decline. He expressed the belief that political instability and unrest in the Middle East will likely keep driving gold prices upwards.
💡 Meger also added, "If inflation data exceeds expectations, it could raise concerns about interest rate hikes, which may subsequently lead to an increase in the demand for safe-haven assets."
Note
⚜️SELL LIMIT 1980 - 1982✔️TAKE PROFIT: 1972
❌STOP LOSS: 1988
Note
Note
✔️ Gold moved to touch Fib 0.786 and rebounded as I predicted. Let's wait for Gold's next actions
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