GOLD → Who pressed the accelerator? Is the RALLY still going on?

23 Okt

XAUUSD continues its bull run. Prices are rising and so are the risks (before the news). What influences the growth and what to expect from the metal that surprises speculators?

Gold continues to rise despite a rising dollar, which is rising mainly on economic data and the growing likelihood of Trump winning the US presidential election.
Escalating geopolitical tensions between Iran and Israel, renewed talks on de-dollarization ( There has been speculation about the creation of a gold-backed currency in the wake of the three-day BRICS summit) are supporting the metal.
Gold is technically at highs, which increases the risks of an unpredictable correction due to the approaching news from the US. Also the focus on China markets and the BRICS summit...

Resistance levels: 2758
Support levels: 2749, 2737, 2728

The upside may continue from the local support areas as we are trading in a strong bull market. The focus is on 2749-2737-2728-2713. The market may form another flat or consolidation before the growth...

Rate, share your opinion and questions, let's discuss what's going on with ★ XAUUSD ;)

Regards R. Linda!