Gold rushes from high to high. Those who expected and possibly bet on a quick collapse of the price rally are now coming under increasing pressure.
For a long time, the price range around $2,000 was considered limiting. There have been advances above the 2,000 mark, but in the past these were always captured quite quickly and sometimes very rigorously. In this respect, the push above $2,000 at the end of November / beginning of December was a turning point, because contrary to the usual practice of quickly returning below $2,000 for a longer period of time, the precious metal this time stuck in the $2,000 range. There were no significant trips below $2,000.
The gold price has been in trouble again and again in the meantime, and since then it has not fallen significantly below 2,000 US dollars – from a technical point of view, this laid the basis for the advance that is currently being observed. If gold doesn’t want to go down, then it has to go up! The 5-year weekly chart illustrates the exciting situation.
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