XAU/USD : Will Gold Reach $3000? (READ THE CAPTION)

24 Sep

By analyzing the #gold chart on the 2-hour timeframe, we can see that the price has risen to $2640, marking a new high. These days, we are witnessing gold setting new all-time highs daily, and many analysts, including myself, expect that if the downward trend in interest rates and the conflict between Israel and Hezbollah in Lebanon continue, we could potentially see gold rise to $3000 in the mid-term. However, if the price closes below $2640 today and doesn't break a new high, we could expect a correction down to $2617 as the first target. Gold is currently trading around $2632.