Gold prices increased sharply in the past session, forming a marubozu candle on the daily frame, showing that buying pressure is very strong. This move reinforced the previous triangle pattern breakout signal, suggesting the possibility of the price returning to an uptrend. Please pay attention to the current resistance level of 2350-2360. If it is broken, the price could extend its upward momentum and move towards the ATH level, then you can consider new buying positions.
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Despite being trapped by high US interest rates, experts are still optimistic about the gold market. Geopolitical tensions in the world have not ended and central banks of countries are constantly buying additional gold.
