So clearly this week after 400 pips drop, following the NFP data which resulted positive for USD. We can say that gold most likely will continue bearish for this week after an expected recovery all the way to 1787 which fits with the golden ratio (38.2) if you trace a short fib from 1833 to 1757.
This is just one of our possible entries as the price might push further up as is well known that the 10-year yield is on a constant rise, inflation is the favourite factor for a Gold run.
overall our idea on gold is that it will rise in the future, this is an intraday opportunity analysis.
Show support and follow for more insights like this.
This is just one of our possible entries as the price might push further up as is well known that the 10-year yield is on a constant rise, inflation is the favourite factor for a Gold run.
overall our idea on gold is that it will rise in the future, this is an intraday opportunity analysis.
Show support and follow for more insights like this.