In today’s Asian market session, gold prices soared, breaking past the 2280 mark to reach unprecedented heights.

This surge in gold prices on Wednesday was propelled by a strong demand for safe-haven assets in the aftermath of a devastating earthquake in Taiwan. Furthermore, the ongoing ambiguity regarding the trajectory of U.S. interest rates has fueled investor interest in gold.

The broader financial scene also witnessed a notable downturn in stock market performances, attributed to a decrease in risk appetite among investors. This shift has paradoxically increased the allure of gold, even as the U.S. dollar and Treasury yields experienced an uptick, influenced by the assertive stance of Federal Reserve officials on monetary policy.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 03/04/2024

Time Frame: 1 hour

GOLD Support & Resistance Table – 03/04/2024

Support & ResistanceLevelExplanation
Resistance 22308.90Daily R2
Resistance 12297.80Daily R1
Support 12268.20Daily S1
Support 22257.10Daily S2

GOLD Indicator Table – 03/04/2024

IndicatorSignal
SMA 20Buy
SMA 50Buy
SMA 100Buy
MACD( 12;26;9)Buy
RSI (14)Neutral
Stochastic ( 9;6;3)Sell

GOLD Indicator / Period Table – 03/04/2024

Indicator / PeriodDay – BuyWeek – BuyMonth – Buy
MACD( 12;26;9)BuyBuyBuy
RSI (14)NeutralBuyBuy
SMA 20BuyBuyBuy

GOLD 03/04/2024 – Reference Price : 2284.94

BUYSimple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (2)
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