On Friday (December 1st) in the European market, spot gold maintained its intraday rebound trend, with gold prices currently trading around $2042 per ounce. This article analyzes the prospects of intraday gold technology.
The technical side of gold is currently sending a bullish signal, which supports further price increases in the future.
Analysts pointed out that the US dollar index returned to its decline on Friday, with trading currently around 103.40. The weakening of the US dollar has boosted the trend of gold prices.
At 00:00 Beijing time on Saturday, Federal Reserve Chairman Powell will have a fireside conversation, and his remarks will have a significant impact on the trend of the US dollar and gold.
Since yesterday, the sideways trend has dominated gold trading. It is worth noting that random indicators are currently sending a positive signal, and waiting for this factor to drive the recovery of gold prices is the main bullish trend. The main target for gold prices is the $2075.25/ounce area.
Gold prices continue to trade within the bullish channel, supporting expectations of further increases in gold prices in the coming trading days. It should be pointed out that if the gold price falls below $2029.00 per ounce, it may push the gold price to turn bearish and first test $2009.30 per ounce before attempting a rebound again.
It is expected that the gold price will trade between the support level of $2025.00/ounce and the resistance level of $2060.00/ounce today.
The expected trend for gold prices today is bullish.
