Gold analysis today October 23
Updated
Dear Angel
The situation in the Middle East seems unlikely to find a peaceful solution soon, which could maintain the upward trend for the price of gold despite higher bond interest rates. Therefore, gold has become a new breeze for investors as it becomes increasingly attractive in the context of prolonged conflict and political tension.
Regarding expectations: This week, several important news about gold will take place from October 25th to 27th, with the most important being the speech of the Chairman of the Fed on October 25th.
Currently, the gold market is trading around $1980 - $1981, and based on this possibility, the downward momentum may reach the support level of $1945. After that, the upward trend will be established once again.
The situation in the Middle East seems unlikely to find a peaceful solution soon, which could maintain the upward trend for the price of gold despite higher bond interest rates. Therefore, gold has become a new breeze for investors as it becomes increasingly attractive in the context of prolonged conflict and political tension.
Regarding expectations: This week, several important news about gold will take place from October 25th to 27th, with the most important being the speech of the Chairman of the Fed on October 25th.
Currently, the gold market is trading around $1980 - $1981, and based on this possibility, the downward momentum may reach the support level of $1945. After that, the upward trend will be established once again.
Note
trendline is creating a support zone to keep gold prices trading above 1975Note
Gold break out qua trendline.shows a short-term downtrend
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