XAUUSD price has coming some importance area ,"Gold holdings in China as part of the total reserves are still very low, so there is probably room for further purchases down the road,” he said Giovanni Staunovo, an analyst at UBS Group AG.
China bought around $1650/oz compared to $1787 today.
What's still not clear is where the rest of the Q3 gold buying came...
previously ive posted a weekly chart (which i invite you to see) of audchf, with the idea of a corrective move up, after a big decline. So i went long on the 0.5 fib llevel of the first move up (wave A) , you can see also divergence in rs, this could be a good entry point.
Thank you for reading
Have a nice day.