Posted by The main reasons for this gold price surge include expectations of US Federal Reserve interest rate cuts, a weaker US dollar, persistent inflation concerns, and geopolitical tensions including fear of a US government shutdown. Additionally, strong buying from central banks such as China and Russia, increased demand from retail investors and hedge funds, and the approaching festive season in India are boosting gold prices. This environment makes gold a preferred safe-haven asset amid economic and political uncertainties, driving prices higher today and sustaining the bullish momentum for the coming months.
Here’s a simplified version:
This chart uses just two tools—the 20 and 200 exponential moving averages (EMAs). The trading idea is to follow the path right in front of us. When prices cross above the 20 EMA and the 20 EMA stays close to the 200 EMA, that’s seen as a signal to buy. The most important part of the setup is that these two EMAs should be near each other. If the 20 EMA moves far away from the 200 EMA, it’s better to wait for the market to cool off before making any trade decisions.
