Gold Holds Strong Above $2725 as Inflation Worries Grow

5. Nov.

FxNews—Gold trades bullish above 100-period SMA with support at $2,725. The bullish trend resumes if XAUUSD exceeds $2,750, with the next target at $2,775.

5. Nov.

Anmerkung

Gold buyers are adding more pressure to the $2,750. The immediate resistance seems to be temporary. If the bull market breaks out, it will likely resume.

P.S. The market awaits U.S. presidential poll results.

6. Nov.

Order storniert

Gold bulls failed to pull the price above the $2,750 resistance. As a result, the price returned below the 100-period SMA with a sharp decline.

The bullish strategy did not trigger.