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#XAUUSD Gold trend analysis: 2240?
The current price of gold is US$2,236. #Gold is in a consolidation and upward trend. As I said yesterday, gold breaks through US$2,217 and has the opportunity to further touch US$2,240.
So will gold rise further next week?
#FX
I think there is a high probability that gold will hit the top suppression point near 2240.
So when did gold start falling? First of all, our analysis from gold has no reference significance anymore, because every time gold rises now, it reaches a new high point. We can refer to the price of silver to analyze the trend of gold.
I think if silver pulls back below $24.3 next week, gold will begin a waterfall-like decline. You can pay attention to $2,170 below.
If silver pulls back and does not fall below $24.3, then gold will rise to a new high again and touch $2245-2250.
#USA
If you want to short gold, my advice is not to short gold near 2235. You can try to wait for the 2245 area to short gold in USD.
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