Quiet gold trading but still not stopped
Hello dear friends!
Gold prices today continue to trade quietly with minimal fluctuations, as this precious metal remains sideways around the $1975 range, and there is still limited information regarding future trends.
However, it is not because the upward momentum of gold has ceased, but rather the market needs to consolidate above the resistance level of $1985 per ounce. The psychological level of $2000 per ounce is crucial, especially for short-term traders, so gold may experience a slight decline before resuming its upward trend.
According to Karina, a potential decline could occur near the initial support level around $1950 per ounce, followed by $1920 per ounce. Gold has experienced rapid gains over the past two weeks, so a profit-taking phase may be activated this week. What are your thoughts? Do you think gold will rise or fall?
Gold prices today continue to trade quietly with minimal fluctuations, as this precious metal remains sideways around the $1975 range, and there is still limited information regarding future trends.
However, it is not because the upward momentum of gold has ceased, but rather the market needs to consolidate above the resistance level of $1985 per ounce. The psychological level of $2000 per ounce is crucial, especially for short-term traders, so gold may experience a slight decline before resuming its upward trend.
According to Karina, a potential decline could occur near the initial support level around $1950 per ounce, followed by $1920 per ounce. Gold has experienced rapid gains over the past two weeks, so a profit-taking phase may be activated this week. What are your thoughts? Do you think gold will rise or fall?
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