Gold Pauses Before Continuing Its Climb

22 באוק׳

Gold is currently on a dramatic "adventure." After a sharp rise to 2,735 USD, it seems to be taking a break around the 2,727 USD support level, as if it's catching its breath before climbing further to new peaks in the 2,750 - 2,767 USD range.

The EMA 34 and 89 are providing solid long-term support. However, remember that the gold market can be unpredictable, and a “slip” could happen if strong resistance is encountered.

Traders should keep an eye on U.S. bond yields rising amid geopolitical tensions in the Middle East and the U.S. election.