3 min readGOLD (XAU/USD):
As previously mentioned, Gold has experienced a historic rally since breaking all-time highs (ATHs), as more investors turn to it as a “safe haven” asset. It will be interesting to see whether the price continues to reach new ATHs or begins to cool off and trade lower.
Looking at the RSI indicator, it’s clear that we’ve breached the key 70% level, but significant selling pressure has yet to emerge. If the price begins to move lower, I would be particularly interested to see how it reacts when it approaches the 50% level on the Fibonacci tool, which also aligns well with the key $2,500 level.
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The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
