FX.co ★ XAU/USD, GOLD

Hello traders, It was fun and volatile on GOLD yesterday. For me, the sharp rise was not surprising as we had previously consolidated above 4264, indicating a continuation of the uptrend in gold prices, which indeed happened. I even thought we would reach new highs, but we experienced a significant pullback. We briefly dropped below 4265, but failed to hold below that level, suggesting a potential move towards new highs. Especially considering that the primary trend remains bullish. However, anything can happen due to the abundance of economic data, news releases, and central bank meetings. Therefore, I have two ideas: if we drop below 4280 again, I will buy with a stop loss below yesterday's lows. But if we immediately move above 4380, I will look for selling signals there.