Gold’s 3 Weeks of escalation are decreasing
Gold’s 3 weeks, Historically, people have looked to gold as a safe haven asset during volatile market conditions.
But in recent weeks, gold prices have fallen alongside stock prices. This is due to a few factors.
Investors must first sell off their interests when they dispose of assets to raise money.
Second, as a safe-haven currency, the value of the US dollar has been increasing, as a result, gold has been sold to raise money for dollar purchases.

Finally, to support their currencies, central banks around the world have started selling gold holdings.
All of these elements have contributed to the current decline in gold prices.
However, it is important to remember that gold is still a safe-haven asset in the long term.
In times of market turmoil, investors will still flock to gold as a safe-haven asset.
This will eventually lead to prices rising again.

Topics
Time to invest in Gold?
The release of the NFP
Gold prices

Time to invest in Gold?

The jobless claims for the week ended on September 2 came out at 860K and the share of people in
the workforce has slightly increased to 62.4%. is still a very high level and indicative of a weak labor market.
However, the next NFP release is scheduled for October 7, 2022, at 8:30 a.m. EST. In the long run, gold remains a
safe-haven asset, it is crucial to keep this in mind investors will continue to swarm to gold as a safe-haven asset during market turbulence.
Prices will potentially rise once more as a result of this. Which makes investors ask the million-dollar question;
Is now the time to buy gold? Gold is a great asset to own for the long term.
However, did it reach the lowest dip? Will it be affected when the coming NFP report will be released?

The release of the NFP

The report will affect the US dollar, which in turn will affect gold. Based on the current market conditions,
gold might not increase in value for the next few days.
However, the market is highly volatile and anything can happen,
investors are waiting in anticipation for the NFP report to be released before they make a decision.
Gold is currently in a bearish market trend.
Will this mean that prices might not increase in value for a while?
Moreover, some analysts believe that there is generally a negative correlation between the two,
meaning that when NFP nonfarm payrolls increase, gold prices tend to fall.

Gold prices

The Gold prices are moving higher in an impulsive manner after breaking the $1,680 resistance level.
The price was trading below the $1,680 level before the release of the US employment data. Gold prices surged higher after the US non-farm payrolls report was released. The price settled well above the $1,696 level and the 100 hourly simple moving average.

The price is currently trading near the $1,710 level, with a positive angle. Immediate resistance is near the $1,712 level, above which it could test the $1,718 level. On the downside, initial support is near the $1,706 level, below which there is a risk of a downside extension below the $1,700 level. Gold prices remain well supported and may continue to rise towards the $1,718 and $1,720 levels.
Support: 1706.40- 1696.75- 1687.60 Resistance: 1712.40- 1718.40- 1723.40

Support: Resistance:
1706.40 1712.40
1696.75 1718.40
1687.60 1723.40

Gold&#8217;s 3 weeks of escalation are decreasing

Related Topics

Gold’s 3 weeks of escalation are decreasing