Analyst Matias Salord makes new gold price predictions. Gold has rebounded sharply above $1800. An overall sharp decline in the US dollar is pushing XAU/USD higher. Gold rose above $1800 after recovering more than $10. cryptocoin.com We are now looking at the details of the analyst’s estimates.
New levels for gold price
Gold has risen more than $10 since the start of the American session and recently climbed to $1805. Earlier on Wednesday, it dropped to $1789, the lowest level since last Thursday. The dollar reversed its trend and fell sharply to its lowest level since Dec. The drop came as US yields rose. The US 10-year peaked at 1.55% and the 30-year 1.96%, both monthly highs so far.
According to the analyst, gold’s rally in the last hours along with the upward movement in yields is not normal as the correlation is usually the opposite. The move may reflect weak trading conditions, the reaction of somewhat resistant gold to a weaker dollar. According to the analyst, the recovery from the 20-day moving average in XAU/USD is now pointing even higher. The next resistance stands at $1815 and a daily close above will open the way to test the next critical resistance located at $1830/$1835. On the other hand, $1795 is again a support level to consider, followed by $1789 (daily low/20-day simple moving average).
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.