Hello everyone, today, December 5, 2022, we want to take a look at the most popular metal in the world, gold.
In the past, gold had a high correlation with the US dollar, it is the same now, but with a lower correlation rate than in the past, gold has always been among the safe assets and due to its higher supply, it has always had an increasing price throughout history. According to Powell, the head of the Central Bank of America, this precious metal has also increased by 2.5% and has reached its weekly and monthly resistance range. What we expect in the long term for gold is the continuation of its upward trend, but currently the price can enter a corrective phase. It will react to the current resistance and fall until its weekly support, i.e. 1734, when the decision to continue to rise or fall further at that point will be made by the traders of this metal.
