Gold Weekly Analysis 21 - 25 Oct 2024
Gold Weekly Analysis 21 - 25 Oct 2024
Gold prices set another ATH (All Time High) record of $2,722/toz on Friday, driven by rising tensions in the Middle East, uncertainty surrounding the US election, and weakening monetary policy expectations continuing to drive interest in safe haven assets.
Next Week based on Kitco.com survey. Wall Street & Main Street are both optimistic in predicting that gold will rise.
According to the 4-hour timeframe Trendline Indicator, gold is in an uptrend
Transaction Advice
Important Data Next Week
Disclaimer: The information above is informative and customers/investors need to verify it and always remember and understand risk management if there is a reversal, also pay attention to ongoing technical indicators and fundamental news that will be released
Gold prices set another ATH (All Time High) record of $2,722/toz on Friday, driven by rising tensions in the Middle East, uncertainty surrounding the US election, and weakening monetary policy expectations continuing to drive interest in safe haven assets.
Next Week based on Kitco.com survey. Wall Street & Main Street are both optimistic in predicting that gold will rise.
According to the 4-hour timeframe Trendline Indicator, gold is in an uptrend
Transaction Advice
- If it goes down and is stuck above 2700 then wait for a valid Buy signal to appear because the market has the potential to rise again to form a new ATH at 2729, if it breaks through the market will continue to rise towards 2749 - 2775
- However, on the other hand, if the price is confirmed to close below 2700 then the market will continue to fall to test the support at 2666
Important Data Next Week
- Unemployment Claims (24/10/24)
- Flash Manufacturing PMI (10/24/24)
- PMI Flash Service (24/10/24)
Disclaimer: The information above is informative and customers/investors need to verify it and always remember and understand risk management if there is a reversal, also pay attention to ongoing technical indicators and fundamental news that will be released
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