All current world news supports gold returning to 2000 price

2023年10月19日

The world war situation has not cooled down and many powers such as Russia, America and China are showing signs of getting involved. This is why I firmly believe that gold will increase in the long-term trend, let's see. Consider my analysis for today.

Gold analysis:
- The drop in gold prices from $1,962 to $1,938 could be a sign of seller participation.
- All will become clear after today's Asia session. Gold is still trading below $1,950 and a significant reversal is possible.
As the situation in the Middle East continues to escalate, gold prices have surpassed their 1950 peak and remain under upward pressure in today's trading. Today's scenario considers maintaining the buy strategy and GOLD is expected to make new highs again in today's session. The upward trend is likely to continue until his 1983 resistance target.
Currently, the price of gold depends on the war situation in the Middle East, so it may not follow the analysis or methodology. I think it is better to set the SL carefully without letting it run free.