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Forex
Gold is back to soar and recorded a new all-time high
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[QUOTE="FXOchartist, post: 344928, member: 90221"] Yesterday's gold price formed a bearish candlestick with a high of 2395 and a low of 2354. Even though it fell, it has not break the bullish structure marked by the MA line which forms an upward channel below the price. Today gold gained 0.25% slightly up to the price level of 2367, the price of gold still has the potential to rise but the RSI at level 70 gives an alert that the price is in the overbought zone. The escalation of war in the Middle East adds to global concerns which often have an impact on financial markets, the price of gold is estimated to still be sought after by investors as a safe haven asset and also central banks that buy gold as reserves as is done by China's central bank which buys up gold throughout the year can contribute to the increase gold price followed by other central banks, although the largest demand is the People's Bank of China (PBC). [ATTACH type="full"]60716[/ATTACH] [/QUOTE]
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Gold is back to soar and recorded a new all-time high
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