Please continue to be optimistic, 2800 point is about to break!!

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Please continue to be optimistic, 2800 point is about to break!!

Gold prices continued their rise during trading on Wednesday, recording their highest levels ever as investors rushed towards the safe-haven metal with less than a week remaining until the US presidential election, as investors await important economic data for clues on the US Federal Reserve’s interest rate stance.


Generally, the direction is uptrend

Uptrend Side: The gold price continues to record new highs, establishing support at 2,778. As long as it trades above this level, it is likely to rise further to reach the next resistance at 2,787. A break above this resistance could drive the price to a new high of 2,800.

Downtrend Side: The price needs to undergo a strong correction to break through the support levels at 2,778, 2,757, and 2,668.