Gold price update
Dear friends!
Today, gold continues its upward trend, with spot gold rising by 18 USD to reach 2,954.3 USD/ounce.
This upward momentum is supported by safe-haven demand amid growing concerns about President Trump's proposed tax plans. Meanwhile, the US Dollar shows minimal gains, while US Treasury yields decline following the release of new economic data that raises concerns about US growth prospects.
As shown on the 1-hour chart, gold's upward movement remains capped by the resistance level of $2,955. In the medium term, gold needs to break above this level to establish any meaningful momentum. Key short-term levels to watch include the support level at $2,935 and signals from the 34.89 EMA. The precious metal is expected to reach the $3,000 mark by late February or early March.
What do you think?
Today, gold continues its upward trend, with spot gold rising by 18 USD to reach 2,954.3 USD/ounce.
This upward momentum is supported by safe-haven demand amid growing concerns about President Trump's proposed tax plans. Meanwhile, the US Dollar shows minimal gains, while US Treasury yields decline following the release of new economic data that raises concerns about US growth prospects.
As shown on the 1-hour chart, gold's upward movement remains capped by the resistance level of $2,955. In the medium term, gold needs to break above this level to establish any meaningful momentum. Key short-term levels to watch include the support level at $2,935 and signals from the 34.89 EMA. The precious metal is expected to reach the $3,000 mark by late February or early March.
What do you think?
✅ Gold Speculation Signals: 4 - 6 Signals.
✅ Forex Signals: 5 - 8 Signals.
✅ Trading Ideas / Setups / Techniques.
✅ NEW UPDATE: Free Signals on Telegram: t.me/+cwKKHoaeEAc5NWY1
✅ Forex Signals: 5 - 8 Signals.
✅ Trading Ideas / Setups / Techniques.
✅ NEW UPDATE: Free Signals on Telegram: t.me/+cwKKHoaeEAc5NWY1
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
✅ Gold Speculation Signals: 4 - 6 Signals.
✅ Forex Signals: 5 - 8 Signals.
✅ Trading Ideas / Setups / Techniques.
✅ NEW UPDATE: Free Signals on Telegram: t.me/+cwKKHoaeEAc5NWY1
✅ Forex Signals: 5 - 8 Signals.
✅ Trading Ideas / Setups / Techniques.
✅ NEW UPDATE: Free Signals on Telegram: t.me/+cwKKHoaeEAc5NWY1
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.