Yesterday, gold shimmered in green, touching a peak of $2,200 during the overnight session for North American traders amidst a softer US Dollar. As Wall Street came to life, the Greenback prolonged its recovery phase, while a dip in US Treasury yields allowed the lustrous metal to sustain its verdant glow.
The 4-hour chart hints at easing upward pressure, with gold hovering around $2,175, yet showing no signs of an imminent downtrend. XAU/USD is thriving above its moving averages (EMA 34, 89) and the trendline suggests a bullish momentum, at least for the short to medium term, is solidly in place!
The 4-hour chart hints at easing upward pressure, with gold hovering around $2,175, yet showing no signs of an imminent downtrend. XAU/USD is thriving above its moving averages (EMA 34, 89) and the trendline suggests a bullish momentum, at least for the short to medium term, is solidly in place!
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