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Gold Price Forecast: New Record High, Eyes Further Upside

From fxempire.com

{video} Gold managed to continue its ascent on Wednesday as it reached a new record high of 2,152, pulling back slightly. Significantly, it is on track to close above the previous record high of 2,135 for the first time. However, this is not the first-time gold has closed above the prior record high. Each of the prior attempts since August 2020 were followed by notable corrections. This time seems different, but we need to see additional clues showing increasing demand. How the retracement occurs, once it happens, should be telling. {chart} Each of several price zones noted on the way up is where to watch for ... (full story)

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  • Category: Technical Analysis