Gold prices rose on Wednesday as Middle East tensions had investors looking for safety in the safe haven of yellow metal. Moreover, a decline in the dollar made gold cheaper for foreign buyers, increasing its demand. Notably, the Israel-Hamas war has escalated since last week with more strikes on vessels in the Red Sea. Additionally, Read More…
Gold prices have demonstrated remarkable resilience in recent weeks, rebounding from dips and maintaining an upward trajectory overall. This precious metal’s recovery is attributed primarily to the weakening of the US dollar and lower Treasury bond yields, both of which enhance gold’s appeal as an investment hedge. Technical analysts have identified key support levels around Read More…
Weekly Chart The weekly time frame shows that price is approaching the previous all-time high, a big milestone for Bitty. The swing high extensions (Swing:SH Ext at 32165) serve as a reference point for potential resistance on further moves up. This swing indicator will likely print a higher low soon around $40,000. Key Levels to Read More…
What Is Trend Trading? Trend trading is one of the most popular strategies in financial markets, appealing to both novice and seasoned traders alike. At its core, it simply involves identifying and following the direction of market movements, which is why it is important to understand how to read trends correctly and if there is Read More…
Gold prices plunged on Tuesday as the dollar and Treasury yields rose after an upbeat inflation report. After a long wait, investors finally saw the state of inflation in the US. According to the report, inflation remains persistent and higher than expected. Consequently, there was a decline in Fed rate cut bets. The outlook for Read More…
Weekly Chart Analysis of Gold Futures The weekly clearly shows the market is consolidating. The Fibonacci retracement levels from the recent swing high and low indicate that the price is hovering around the 100 level (previous all time high). Bulls still need to see a decisive break above this in order to continue with the Read More…
