Yesterday, the US dollar continued to fall because of news about Director Cook possibly resigning, which lowered trust in the Federal Reserve.
Gold went above the August 8 high of 3,409 and rose to 3,423. The war in Israel is also getting worse, and this risk pushed gold higher, closing at a strong level.
However, the area around 3,440–3,450 is a strong resistance level, because even after gold reached the highest price of 3,500 on April 20 this year, it could not go higher than this area.
Today is Friday, and depending on the result of the US PCE (Personal Consumption Expenditures Price Index) inflation data announced during New York trading, gold may face selling pressure as traders take profit.
Expected Gold-Dollar Range: 3,400 – 3,440 USD
Note: This information does not guarantee profits. Please make your own decisions when trading.