FX.co ★ Short-term Ichimoku cloud indicator analysis of Gold for August 28, 2020

At the end of the week we find Gold price near its week highs and yet again above the weekly tenkan-sen indicator indicating short-term trend remains bullish and buyers continue to have enough power to support the pull backs.

On a weekly basis gold price has challenged the tenkan-sen (red line indicator) and is bouncing off of it. This is a bullish sign. A weekly close below $1,900 would imply more weakness will follow. Until then short-term trend is bullish.