FX.co ★ XAU/USD, GOLD

Hello traders, yesterday the price of GOLD was dropping significantly, reaching the level of 4550, but buyers stepped in and managed to neutralize a large part of the decline. The trading week closed at 4676. The priority remains on growth and buying the asset, considering the global bullish trend and the activation of a bullish pin bar on the weekly timeframe last week. I consider the round level of 5000 as the minimum target for growth from this signal, with the potential target around the inclined level of 5150 where resistance is present. It is possible that a new wave of medium-term decline may start from there.