Spot gold maintained a strong trend during the European market on Thursday. During the trading day, gold traders will focus on Federal Reserve Chairman Powell's speech, which is expected to trigger a big move in the gold market.
The next upward barrier for gold prices is expected to be the high of $1,972 per ounce on July 31. If this level is overcome, the high of $1,982 per ounce on July 27 will be challenged.
If gold prices are suppressed again above the psychological level of $1,950 per ounce, gold bears will target the 200-day moving average support at $1,930 per ounce.
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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.