Gold Approaching $3,000, But Short-Term Action Remains Stagnant
Gold is pushing for the $3,000 per ounce mark, showing impressive strength. However, the price hasn't moved much this week. The reason is clear: the current risk-to-reward ratio is not ideal for new long positions. Bullish traders may find better opportunities between $2,545 and $2,594, with targets set at $2,629 and $2,680 if a dip occurs. This range offers more favorable conditions for upside potential.
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This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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