Gold: Will It Hold or Be Manipulated?
During this week, the picture of gold did not change much. The price found a strong support area near the 3375 level, and it seems that it will not decrease further without some major news.
The price of gold has recently been dominated only by the war between Israel and Iran, which is in its 6th day without any agreement yet between the US and Iran.
Today we have the FOMC meeting, but in my opinion, the decision that the FED may take regarding the interest rate has no impact on the price of gold, since Gold is a safe asset and the current situation is critical.
We may see speculative moves to lower gold during the FOMC, but under normal conditions, it should not fall given the current geopolitical tensions in the Middle East.
It can only fall from any manipulation, because from a fundamental perspective, gold should rise or at least a long pause around our area may be needed.
Key target zones: 3420 | 3450 | 3470 | 3490
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
During this week, the picture of gold did not change much. The price found a strong support area near the 3375 level, and it seems that it will not decrease further without some major news.
The price of gold has recently been dominated only by the war between Israel and Iran, which is in its 6th day without any agreement yet between the US and Iran.
Today we have the FOMC meeting, but in my opinion, the decision that the FED may take regarding the interest rate has no impact on the price of gold, since Gold is a safe asset and the current situation is critical.
We may see speculative moves to lower gold during the FOMC, but under normal conditions, it should not fall given the current geopolitical tensions in the Middle East.
It can only fall from any manipulation, because from a fundamental perspective, gold should rise or at least a long pause around our area may be needed.
Key target zones: 3420 | 3450 | 3470 | 3490
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
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t.me/KlejdiCuni
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youtube.com/@TradingPuzzles
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.