In today’s Asian trading session, gold prices surpassed the $2,380 mark, driven by a confluence of factors that are bolstering investor interest in the safe-haven asset.

The escalation of geopolitical tensions in the Middle East, particularly following Israel’s recent missile strike in Tehran, has heightened market uncertainty, prompting investors to turn to gold. This increase in demand reflects concerns over the stability in the region, which historically triggers a flight to safety among investors.

Additionally, gold’s allure has been magnified by a weakening U.S. dollar, making gold more affordable for holders of other currencies and thus increasing its appeal. The demand for gold has also been supported by robust buying from Chinese investors and strategic acquisitions by central banks, aiming to diversify their reserves amid global economic uncertainties.

These combined forces are contributing to the upward trajectory in gold prices, offering a lucrative opportunity for investors who anticipate continued volatility in global markets. In fact, leveraging advanced Artificial Intelligence (AI) has enabled market participants to navigate these fluctuations successfully. Remarkably, those utilizing AI technologies in their trading strategies have reported achieving over 34% Return on Investment within the last 24 hours, highlighting the significant impact of predictive analytics on investment success.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 19/04/2024

Time Frame: 1 hour

GOLD Support & Resistance Table – 19/04/2024

Support & ResistanceLevelExplanation
Resistance 22425.19Daily R2
Resistance 12407.25Daily R1
Support 12359.39Daily S1
Support 22341.45Daily S2

GOLD Indicator Table – 19/04/2024

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

GOLD Indicator / Period Table – 19/04/2024

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

GOLD 19/04/2024 – Reference Price : 2380.64

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

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