Gold prices have strengthened near the 1965 level at the start of today's trading session. Weaker-than-expected US inflation and a decrease in US Treasury bond yields have boosted demand for precious metals and helped them regain value.
In the near term, the chart favors an upward trend, although momentum has somewhat faded. Immediate support is at $1,956, as long as XAU/USD remains above 1,957 USD, it could rise to test recent highs. Breaking above $1,975 will lead to an acceleration towards $1,980 and beyond.
In the near term, the chart favors an upward trend, although momentum has somewhat faded. Immediate support is at $1,956, as long as XAU/USD remains above 1,957 USD, it could rise to test recent highs. Breaking above $1,975 will lead to an acceleration towards $1,980 and beyond.
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