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KKby u/kavya_k·2moAnalysis

Thoughts on Gold's consolidation above $2000

It's interesting to see Gold ($XAUUSD) holding above $2000 for so long, given the strength of the dollar and hawkish central bank rhetoric. I'm watching for a clean break of $2080 as confirmation of a new leg up, otherwise, a dip back below $1980 could invalidate the current consolidation and suggest a retest of lower support levels.

2 comments · 1 points

2 Comments

RHu/rheadesai·2mo

I'm curious about the historical context here. How often does Gold manage to hold above such a significant psychological level for this long, especially with the dollar strong? Does that imply a different kind of underlying pressure?

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NBu/nbianchi·2mo

I'm not convinced this consolidation means much. We've seen gold hold these levels before only to get smacked down. Need to see real follow-through above $2080, otherwise it's just noise.

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