Recent gold price fluctuations tend to go up and down in the H1 time frame, from the pattern formed, if a trendline is drawn, market sentiment tends to form a bullish pattern.
Monitoring today's gold price movements via Ticktrader FXOpen, it appears that the price is forming a small body bull candle with a long shadow on the top candle in the daily timeframe. This means that after the gold price rose to a high of 2055.93, it was corrected down to 2039.27.
The price of gold seems to have started to rise since January 25 by forming a higher high rising pattern. Gold is believed to be a store of value for centuries amidst high monthly commitment costs due to high-interest rates. Gold has managed to overcome inflation and become an asset safe haven.
According to a Reuters poll reported by the FXOpen blog, gold prices are expected to rise in 2024 if the anticipated interest rate cut is officially announced.
The volatility of gold prices is high, so it provides equal profit and risk potential, so it is necessary to wait in the safest possible zone to enter the market, and always be disciplined in implementing risk management with rational targets.
The gold price is now trading at 2024.98, the gold price is between the middle and lower band lines above the MA 50.
Market volatility appears to be decreasing as seen from the narrowing of the Bollinger band. This movement is quite a contrast compared to Bitcoin, which is often called digital gold.
This may indicate that investors are more likely to choose risky assets rather than Gold, which is one of the Safe Haven assets. Bitcoin price has now reached $48K and is forming a bullish sentiment, while gold is likely forming a flat channel.
Monitoring today's gold price movements via Ticktrader FXOpen, it appears that the price is forming a small body bull candle with a long shadow on the top candle in the daily timeframe. This means that after the gold price rose to a high of 2055.93, it was corrected down to 2039.27.
The price of gold seems to have started to rise since January 25 by forming a higher high rising pattern. Gold is believed to be a store of value for centuries amidst high monthly commitment costs due to high-interest rates. Gold has managed to overcome inflation and become an asset safe haven.
According to a Reuters poll reported by the FXOpen blog, gold prices are expected to rise in 2024 if the anticipated interest rate cut is officially announced.
The volatility of gold prices is high, so it provides equal profit and risk potential, so it is necessary to wait in the safest possible zone to enter the market, and always be disciplined in implementing risk management with rational targets.
The gold price is now trading at 2024.98, the gold price is between the middle and lower band lines above the MA 50.
Market volatility appears to be decreasing as seen from the narrowing of the Bollinger band. This movement is quite a contrast compared to Bitcoin, which is often called digital gold.
This may indicate that investors are more likely to choose risky assets rather than Gold, which is one of the Safe Haven assets. Bitcoin price has now reached $48K and is forming a bullish sentiment, while gold is likely forming a flat channel.
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