Gold Holds Strong Above $2725 as Inflation Worries Grow

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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.

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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.

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Emir iptal

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.