Gold continues to show the strength of price increase
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Last week, we received a lot of significant news, including the Fed's interest rate decision. Despite that, gold has maintained its strong upward momentum, trading around $1985 per ounce in the past week, with a few small touches of $2000. Currently, gold has paused at $1992 and shows no signs of stopping its price rally, indicating its long-term growth potential is still intact.
The previous uptrend was broken at $1987, but gold quickly formed a new uptrend channel and is still operating well within that trend. The next target for this precious metal will be to reach the $2005 level in the coming week and conquer the weekly high at $2010.
Last week, we received a lot of significant news, including the Fed's interest rate decision. Despite that, gold has maintained its strong upward momentum, trading around $1985 per ounce in the past week, with a few small touches of $2000. Currently, gold has paused at $1992 and shows no signs of stopping its price rally, indicating its long-term growth potential is still intact.
The previous uptrend was broken at $1987, but gold quickly formed a new uptrend channel and is still operating well within that trend. The next target for this precious metal will be to reach the $2005 level in the coming week and conquer the weekly high at $2010.
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