In today’s Asian trading session, gold prices maintained positions above the $2320 mark. This level of trading reflects a complex interplay of global events and economic policies currently influencing investor sentiment toward this traditionally safe-haven asset.

A notable decrease in concerns related to the ongoing conflicts in the Middle East has somewhat lessened the urgency for investors to flock to safe-haven assets like gold. This easing of geopolitical tensions is subtly reshaping the investment landscape, reducing the immediate allure of gold, which typically benefits from global instability.

Further impacting gold’s appeal is the growing consensus among investors that the U.S. Federal Reserve is poised to keep interest rates high in the foreseeable future to combat persistent inflationary pressures. High interest rates tend to diminish the attractiveness of non-yielding assets such as gold, as they do not offer interest returns and cost more to hold compared to interest-bearing assets.

During these times, leveraging cutting-edge Artificial Intelligence (AI) has proved crucial for investors aiming to navigate these shifts adeptly. Remarkably, some investors using AI to analyze and predict market trends have reported a 34% Return on Investment within the last 24 hours, showcasing the robust capability of AI to enhance decision-making processes in real-time market scenarios.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 24/04/2024

Time Frame: 1 hour

GOLD Support & Resistance Table – 24/04/2024

Support & ResistanceLevelExplanation
Resistance 22358.63Daily R2
Resistance 12345.50Daily R1
Support 12310.50Daily S1
Support 22297.37Daily S2

GOLD Indicator Table – 24/04/2024

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

GOLD Indicator / Period Table – 24/04/2024

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

GOLD 24/04/2024 – Reference Price : 2329.54

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

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