💡 XAUUSD: Gold price struggles around important milestone!
The above resistance level will be the focus on today's gold price chart. If successful, bulls will hope to bring the price back to its historic peak above the $2,400 mark. However, it is difficult for short sellers to see the above scenario happen easily, especially when their potential target around the $2,305 mark has not yet been completed.
In terms of trading volume, the decline of this indicator is showing that the market's moving momentum is weakening quite a lot. After a week with two blockbuster news, this week's economic calendar does not have many highlights other than the two central banks of Australia and the UK announcing their latest interest rate policies on Tuesday and Thursday respectively. Year.
In terms of trading volume, the decline of this indicator is showing that the market's moving momentum is weakening quite a lot. After a week with two blockbuster news, this week's economic calendar does not have many highlights other than the two central banks of Australia and the UK announcing their latest interest rate policies on Tuesday and Thursday respectively. Year.
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Gold is also supported by inflation and escalating prices in many countries around the world. Asian and European countries are struggling to control their currencies from plunging.
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The USD is also under pressure after US Presidential candidate Donald Trump said that the strengthening of the USD is causing the US economy to "fall into hell".
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