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GOLD (XAU/USD) ANALYSIS

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OANDA:XAUUSD   黃金現貨 / 美元
Bullish Impetus Reflects the Positive Outlook for Gold in 2024

The gold market attempted to catch its breath after a phenomenal day of trading yesterday. Registering a 5.42% round trip, the price of gold obliterated the prior swing all-time-high around $2081 only to retrace the move and end the day significantly lower.

The RSI surged into overbought territory and has already recovered – highlighting the massive amount of volatility experienced yesterday. Today, however, trading has been more moderate, trading below the $2050 level but the uptrend remains well intact and well above the 200-day simple moving average
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