Gold consolidates at $1860
The price of precious metals remains stable following the Israel-Hamas conflict, with no significant increase in the demand for safe-haven assets like gold. Currently, gold is trading at $1860 per ounce.
The lack of momentum in the USD, following a stronger-than-expected jobs report on Friday, has led many investors to believe that the greenback may have reached its peak. This is seen as a positive signal for the gold market.
It is expected that gold will continue to rise and reach potential resistance levels of around $1885 per ounce, followed by $1900 per ounce. The next potential support level is the highest point from Friday, at $1835 per ounce.
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The lack of momentum in the USD, following a stronger-than-expected jobs report on Friday, has led many investors to believe that the greenback may have reached its peak. This is seen as a positive signal for the gold market.
It is expected that gold will continue to rise and reach potential resistance levels of around $1885 per ounce, followed by $1900 per ounce. The next potential support level is the highest point from Friday, at $1835 per ounce.
If you find this article helpful, please leave a like and follow to support Alselv.
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The USD Index dropped to 105.8 points, causing the USD to decrease in value compared to 6 other strong currencies, including: Euro, JPY (Japanese Yen), GBP (British Pound), CAD (Canadian Dollar), SEK (Swedish Krona). Sweden) and CHF (Swiss Franc). This factor has created momentum for gold prices to flourish today.
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