Comments on gold trends on November 3rd
#XAUUSD continues to wait for a buyout.
XAUUSD h1 price is still moving sideways within the 1975-1990 range, but today gold prices may fall again to his 1975 support zone, then reverse and rise again . Currently, a trader can wait until he buys gold around 1975, SL: 1968, TP: around 1990.
Gold rose along with the U.S. dollar and bond yields, but silver fell on growing expectations that the Federal Reserve could complete its interest rate hike. Investors continue to await U.S. non-farm employment data.
Experts say the need for safe haven continues amid conflicts in the Middle East. Gold prices rose more than 7% in October as investors sought safety in this uncertain environment.
Bart Melek, head of product strategy at financial firm TD Securities, said lower interest rates, a weaker dollar and stronger purchasing power should support gold in the long run.
#XAUUSD continues to wait for a buyout.
XAUUSD h1 price is still moving sideways within the 1975-1990 range, but today gold prices may fall again to his 1975 support zone, then reverse and rise again . Currently, a trader can wait until he buys gold around 1975, SL: 1968, TP: around 1990.
Gold rose along with the U.S. dollar and bond yields, but silver fell on growing expectations that the Federal Reserve could complete its interest rate hike. Investors continue to await U.S. non-farm employment data.
Experts say the need for safe haven continues amid conflicts in the Middle East. Gold prices rose more than 7% in October as investors sought safety in this uncertain environment.
Bart Melek, head of product strategy at financial firm TD Securities, said lower interest rates, a weaker dollar and stronger purchasing power should support gold in the long run.
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