Price has hit a key area of support on the weekly and I expect to see a bullish uptrend.
Now since we have seen a very steady increase in inflation pressure and the federal reserves current projections show the pressure will last until the mid of 2022, we can speculate that the banks will react in a rush to buy Gold.
From my analysis I believe Gold hit the previous resistance levels of between 1830-1833. This has been a very strong Resistance level from July through October and if inflationary pressure keeps up, I expect to see price reach this level.
Now since we have seen a very steady increase in inflation pressure and the federal reserves current projections show the pressure will last until the mid of 2022, we can speculate that the banks will react in a rush to buy Gold.
From my analysis I believe Gold hit the previous resistance levels of between 1830-1833. This has been a very strong Resistance level from July through October and if inflationary pressure keeps up, I expect to see price reach this level.