Gold Price Today, November 18: Recovery Trend
The global gold price has recorded an increase, fluctuating around 2,584 USD/ounce. This week, the gold market is expected to remain relatively quiet, as fewer important economic data will be released. Key pieces of information that investors are awaiting include housing market data and building permits in the U.S., new home sales, and the University of Michigan's consumer sentiment survey. Additionally, statements from Federal Reserve officials will be closely monitored to assess the likelihood and pace of future monetary policy adjustments.
Looking at the technical chart, with support at 2,562 USD/ounce, gold is gradually recovering its upward momentum. If gold holds above this support level, it is likely to continue rising toward the next resistance level around 2,600 USD/ounce, and could go even higher if strong capital flows into safe-haven assets. However, if the 2,562 support is broken, gold may face downward pressure, with the next support level around 2,540 USD/ounce. Economic factors and Fed policies will play a crucial role in shaping the short-term trend of the gold market.
What do you think about today's gold price? Feel free to share your thoughts in the comments!
Looking at the technical chart, with support at 2,562 USD/ounce, gold is gradually recovering its upward momentum. If gold holds above this support level, it is likely to continue rising toward the next resistance level around 2,600 USD/ounce, and could go even higher if strong capital flows into safe-haven assets. However, if the 2,562 support is broken, gold may face downward pressure, with the next support level around 2,540 USD/ounce. Economic factors and Fed policies will play a crucial role in shaping the short-term trend of the gold market.
What do you think about today's gold price? Feel free to share your thoughts in the comments!
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