Gold Prices continued their run higher on Thursday, buoyed up by a little slide in the United States Dollar and the usual range of broad geopolitical risks that have tended to support the market.
With conflict ongoing in Ukraine and Gaza, the oldest haven asset looks underpinned, even as the investment world comes to terms with the likelihood that borrowing costs will remain high for longer than they had thought at the start of this year.
Gold Prices Daily Chart Compiled Using TradingView
A finish in the green today will mark a sixth straight session of gains for gold, which has on Thursday printed a new ten-day high just below $2035/ounce.
Bulls will need to get back into the $2035-$2037 resistance area from February 5-9 if they’re going to build a base from which to push higher. Prices remain in a very broad range between $1982.34 and $2078.62 which has constrained the market since late November last year.
Confirm Chart
Xauusd confirm buy
Gold now 2029
Target 2033
Target 2037
Target 2050
Target 2070
With conflict ongoing in Ukraine and Gaza, the oldest haven asset looks underpinned, even as the investment world comes to terms with the likelihood that borrowing costs will remain high for longer than they had thought at the start of this year.
Gold Prices Daily Chart Compiled Using TradingView
A finish in the green today will mark a sixth straight session of gains for gold, which has on Thursday printed a new ten-day high just below $2035/ounce.
Bulls will need to get back into the $2035-$2037 resistance area from February 5-9 if they’re going to build a base from which to push higher. Prices remain in a very broad range between $1982.34 and $2078.62 which has constrained the market since late November last year.
Confirm Chart
Xauusd confirm buy
Gold now 2029
Target 2033
Target 2037
Target 2050
Target 2070