Gold price skyrocketed from $1,400 to $1,424, before slowing down to $1,414, in a scenario where we are still seeing huge investor interest in the precious metal.
Markets are pricing in growing expectation for 2 interest rate cuts to the Fed’s base rate in the next few months, while in the short terms all eyes are on the meeting between Donald Trump and Xi Jinping, scheduled within the G-20 this weekend.
From a technical point of view, we can now see a first support area at the psychological threshold of $1,400, while the first resistances are placed at $1,424 and $1,440, the recent peaks.
