GOLD Markets Recover After an Initial Dip: XAUUSD GOLD gold Gold goldprice goldtrading
The market had been sideways for a couple of weeks, suggesting that we are just now getting inertia back into the market, and therefore it is likely that we will start to pick up more buying pressure as we move forward. Gold markets are especially sensitive to inflationary pressures, which of course are quite strong at the moment.
Speaking of the $2000 level, we have sliced through it rather easily the last time we got to that point, so I do not think it will be a huge barrier to overcome. Sure, there will be a bit of psychology attached to that level, but that should be something that we overcome rather quickly. At that point, I would anticipate a move to the $2050 level, and possibly even the recent highs.
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