During today’s Asian trading session, gold prices witnessed a notable rebound, currently trading above the $2340 mark. This resurgence comes even as the US Dollar remains stable, a factor that traditionally pressures gold lower. Investors are displaying caution, awaiting imminent US inflation reports which are expected to play a pivotal role in guiding the Federal Reserve’s policy decisions. Recent affirmations of potentially prolonged high US interest rates have somewhat dampened the appeal of gold. However, the escalating geopolitical tensions in the Middle East have reignited interest in gold as a safe-haven asset, providing a temporary uplift to its prices. Utilizing sophisticated AI technology, some investors have capitalized on these market dynamics, achieving impressive results. Indeed, those who employed AI-driven analysis were able to navigate the market effectively, realizing over a 34% return on investment in just the last 24 hours. Discover how AI is reshaping financial forecasting.
Technical analysis
Time Frame: 1 hour
GOLD Support & Resistance Table – 14/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 2364.13 | Daily R2 |
| Resistance 1 | 2355.50 | Daily R1 |
| Support 1 | 2332.50 | Daily S1 |
| Support 2 | 2323.87 | Daily S2 |
GOLD Indicator Table – 14/05/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Buy |
GOLD Indicator / Period Table – 14/05/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Buy | Buy | Buy |
| RSI (14) | Buy | Buy | Buy |
| SMA 20 | Sell | Buy | Buy |
GOLD 14/05/2024 – Reference Price : 2344.21
| BUY | Simple Moving AverageBuy (2)Sell (1)Technical Indicators – OscillatorsBuy (3)Sell (0) |
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