This week, gold has broken its downward trend line, indicating a potential strong upward movement ahead. The possible targets for this week could be 1945, 1955, 1980, and 2000.
Gold support levels: 1899-1905,
Gold resistance levels: 1924-1931, 1935.7, 1945, 1977-1987
However, we should also consider the current situation of the ongoing conflict between Palestine and Israel, as it has the potential to significantly impact the market dynamics.
The strong upward movement in gold was mainly due to the conflict between Israel and Palestine. Now, this week, if the conflicts escalate further, there is a high possibility for gold to rise to prices around 1940, 1950, or even 1960. And if the situation continues to deteriorate, we might even see it reach 2000. However, if Saudi Arabia intervenes and mediates between Israel and Palestine, establishing peace, the conditions will not be the same, and we could witness a decline in the price of gold.