Gold prices are experiencing the best week of the last 3 months
The spot gold price in international markets is testing above the $ 1,950 level, with the effect of the prospect of Democrat candidate Joe Biden being elected president in the US, and the expectations that the Fed will further monetary expansion to support the economy as the division continues in Congress. When the dollar / TL also supported the increase in gold prices in the global markets, the gram price of gold saw 530 liras today and refreshed a record.
Best week of last 3 months under the spotlight
The ounce price of spot gold, which has been experiencing the best week of the last 3 months, has retreated after testing the $ 1,952.82 level last night, but with the Democrat candidate Biden getting closer to declaring his victory, it turned its direction over the $ 1,950 level again today.
Initial resistances on rising prices: $ 1,952 and $ 1,960
In the information note, which includes the gold analysis shared by Meksa Investment, the level of $ 1,960 is twisted in order to continue the output. The analysis prepared by the company is as follows:
“XAUUSD Reaction purchases were seen after long-term correction and profit sales. The first supports are at the levels of 1.932 and 1.916. The next supports below these levels are seen as 1.908-1.902. Initial resistances are at 1.952-1.960. It will be important to cross these levels for the continuation of the reaction. The next resistances are located at 1.973 and 1.992-2.015. As the exit movement gains strength, short-term profit sales can be seen at the resistance levels. “