Gold Analysis – 12.Jun.2024
Gold Analysis: Taking a closer look at the #Gold chart on the 2-hour time frame, we see that the price has been following our previous analysis perfectly. It started its upward journey from $2296 and, with a solid gain of over 240 pips, reached $2320! Right now, gold is trading around $2313. Today, all eyes are on the US CPI data. If the numbers come in lower than expected, we could see the DXY drop, which might push gold up to new heights like $2330 and even $2348. On the flip side, if the data is higher than expected, we might see a different story unfold.For support, gold has levels at $2288 to $2298, $2277, and $2266. On the supply side, keep an eye on $2350, $2358.4, and $2366.6. Exciting times ahead for gold traders!
(This Post on TradingView)
Author : Arman Shaban
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