Overview of the Price of Gold
At the end of the week, the prices of gold are able to mark a turnaround in multi-day declines with gold rising more by than 3.7% in the last week. In the days ahead, though, development could be vulnerable, as XAU/USD progresses towards declining resistance for several months.
This is the latest goals of the XAU/USD technological charts in the early part of the week and their invalidation stages. Gold has held this short-term gain for the first full week of October's trading, with momentum now reaching greater technical downward resistance.
Gold ETFs reached historic highs on Monday. Analysts believe that spot gold will follow the rising ETF and thus raise the price of it as well.
#Gold Investors buy the dip as global ETF holdings hit record. The worldwide total expanded in Aug and Sep even as prices backtracked, and it hit a fresh record on Monday, acc to data compiled by Bloomberg, highlighting that Gold rally has more to run. Holger Zschaepitz @Schuldensuehner via Twitter