Gold Spot / U.S. Dollar
Long
Updated

XAUUSD: Gold Once Again Back To $3270 Region, What Next ?

7 198
Gold has once again backed to the 3270 region and rejected it, currently trading at 3280$. The main question is whether gold will hold on to this level. If not, we could see a strong sell-off taking the price to 3130. This is because the sellers’ presence has increased, and the price has been volatile due to mixed news and economic data, further strengthening the bears’ position in the market.

Despite this, we remain optimistic that gold will continue its bullish move upwards. There’s a strong reason for this: we may see all-out war happening in Asia, although this is purely speculative. For now, you may decide to continue monitoring the price or even take a swing buy, which could be risky.

Given the volatility of gold, we recommend trading cautiously and taking extra precautions while trading gold.

Wishing you good luck and safe trading!

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