GOLD is expected to have a STRONG UPWARD TREND in the future. Looking at the fourth trading session, yesterday, gold prices experienced a slight decline, but buying pressure surged as soon as the ADP Nonfarm Payrolls data was released during the U.S. session, proving quite robust.
In the morning session today, gold prices continued to rise, breaking through the accumulation area of the past few days.
The wave of risk aversion intensified further following the strong ADP data released last night, exerting a significant impact.
If gold prices surpass the strong resistance level of 2,365, the trend is likely to continue upward. After surpassing the 2365 level, the technical buying side is expected to be stronger than the selling side.
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