XAUUSD - Can prices increase again ?
Hey folks, should we be buying or selling gold today?
Right now, gold is stable around $2,323 per ounce, maintaining its downtrend despite easing tensions in the Middle East and profit-taking among investors. According to technical analysis, the recent dip seems to be just a minor correction in a bigger bullish trend, given gold's substantial 22% rise over the last couple of months.
If it dips further this week, it might set us up for a quick rebound, especially since it hasn't broken below $2,300 yet. Looks like a good chance it’ll climb back up soon, supported by those snagging bargains for the long haul. What’s your move?
Right now, gold is stable around $2,323 per ounce, maintaining its downtrend despite easing tensions in the Middle East and profit-taking among investors. According to technical analysis, the recent dip seems to be just a minor correction in a bigger bullish trend, given gold's substantial 22% rise over the last couple of months.
If it dips further this week, it might set us up for a quick rebound, especially since it hasn't broken below $2,300 yet. Looks like a good chance it’ll climb back up soon, supported by those snagging bargains for the long haul. What’s your move?
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