Will Higher Uncertainties Make Gold Shinier?

Traders Den

What’s happening in the markets?
Exness has put together some of the most important news and events that may affect your trades in the near term.

  • The Middle Eastern conflict has not cooled down, with some countries potentially getting their hands ‘dirty’ and more victims in both countries.
  • Aside from that, the Middle Eastern conflict has dampened the East-European conflict significantly, but it remains uncertain for the region and countries around.
  • Moreover, the economy becomes more uncertain as the economic data releases are more inconsistent but show slowing inflation and economic activities.
  • From a technical perspective, Gold has stayed mostly the same since returning above 1,900 USD per troy ounce.
  • If Gold immediately surges, the price may retest its resistance at 1,947 – 1,950 USD per troy ounce.
  • On the contrary, Gold may return to 1,890 – 1,900 USD per troy ounce if the price retraces before its continuation.