JayTeeXI
Banned
Experts predicted that the gold price would rise towards the $1870 resistance zone in the early hours of today. The US bond yield rises as investors are encouraged by the prospect of a meeting between US President Joe Bidden and Chinese President Xi Jiping.
The purpose of the gathering is to strengthen the countries' ties. Following the release of US retail sales, however, gold bulls have taken control of the market. This actually indicates that additional gains are on the way, restoring confidence in the bulls.
"The 100-moving average (DMA) is set to cross the 200DMA for the upside," according to Anil Panchal, a well-known forex enthusiast.
The purpose of the gathering is to strengthen the countries' ties. Following the release of US retail sales, however, gold bulls have taken control of the market. This actually indicates that additional gains are on the way, restoring confidence in the bulls.
"The 100-moving average (DMA) is set to cross the 200DMA for the upside," according to Anil Panchal, a well-known forex enthusiast.