Gold increased sharply, booming in the 4h frame
Dear friends, it appears that the Fed is still committed to its inflation goal. However, increasing political instability could quickly push gold up to $2000 per ounce. Since the conflict in the Middle East began, the demand for safe havens has helped gold rise by nearly $120.
At the time of writing, gold is trading around $1978 - $1980. It is evident that gold is trading at a relatively strong high level. It is expected that the price of gold will continue to rise to $2000 in the near future due to the stability of the trend on the 4-hour timeframe.
At the time of writing, gold is trading around $1978 - $1980. It is evident that gold is trading at a relatively strong high level. It is expected that the price of gold will continue to rise to $2000 in the near future due to the stability of the trend on the 4-hour timeframe.
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The US Department of Labor said that the number of weekly unemployment benefits decreased by 13,000 to 198,000 applications. Data better than expected, economists predict this number is 210,000 applications.
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It is expected to expand the increase to about 1,998-2,010 USD/ounce, as it broke the resistance threshold of 1,972 USD/ounce.
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The dollar also fell, making gold more affordable to international buyers, with the ICE dollar index down 0.1 point to 106.15.
