On Monday, the price of gold took a temporary dip, with XAU/USD currently trading at around 1,954, remaining steady for the day after reaching a low point of 1,945.72 a troy ounce. The financial market's excitement has cooled down as investors prepare for upcoming major events, such as central banks and another update on the United States inflation progress, scheduled for next week.
The US Dollar has regained some of the ground it lost after collapsing last week. However, its gains are insignificant compared to the sell-off the American currency experienced due to speculation that the Federal Reserve (Fed) may end the tightening cycle earlier than anticipated.
Support levels: 1,950.70 1,940.95 1,928.60
Resistance levels: 1,967.90 1,983.40 1,996.55
The US Dollar has regained some of the ground it lost after collapsing last week. However, its gains are insignificant compared to the sell-off the American currency experienced due to speculation that the Federal Reserve (Fed) may end the tightening cycle earlier than anticipated.
Support levels: 1,950.70 1,940.95 1,928.60
Resistance levels: 1,967.90 1,983.40 1,996.55
Stop Loss : 1937
Take Profit 1: 1948
Take Profit 2: 1955